The transition of National’s Studio 66 to the Varsity 66 accurately represented the falling fortunes of National’s parent company, Valco, in the mid-1960s.

The Studio had introduced modern materials – such as the fiberglass body – and unconventional pickguard and pickup designs, but the Varsity seemed to remove all the flair. The single-pickup looked as if it had been lifted off some budget-brand model from the 1950s, and the screwed down pickguard had more in common with the ultra-cheap Danelectro/Silvertone models that Sears sold than with the stylish creations National was known for.

The offset cutaways gave the Varsity 66 the appearance of modern playability, and the black plastic headstock overlay had a beveled edge that simulated the binding on more expensive guitars, but with a plain, dot-inlaid fingerboard, a single pickup, and an almost homemade-looking pickguard, the Varsity 66 would have been more at home in Valco’s budget-priced Supro line.

It’s performance was no better than it’s design, and it barely lasted a year before National discontinued it.