Hi: I need advice. I'm looking to spend no more than 10K for a family-friendly grand (little kids at home, etc). I've been looking at the craigslist market for a while but my experience is that once I get a pianotech in to look at a used grand, the suggested work makes an apparent steal no longer such a great deal. Right now a very reputable dealer is offering me an M&H AA from the mid-1930s. The strings have been redone and maybe the hammers at some point, but everything else is original. It plays sweetly and the dealer stands behind it. It's at the upper end up my price range: anyone feel strongly I should take it, or keep looking?

"dealer stands behind it"

How far behind it?

Get an independent tech to evaluate it for you.

It's impossible to tell without a knowledgeable and independent tech inspecting it. What does "the dealer stands by it" mean? If the string wee replaced but you don't know when and how well this was done then this is again hard to evaluate as far as the piano's worth. I'd have the tech tell you what work, if any, is needed to bring it to various levels from acceptable to excellent.

While I agree that an evaluation by an independent tech is needed, you should pursue this with vigor.

I've seen many M&H's like the one you describe and they can be VERY fine instruments for years to come. The price, particularly from a reputable dealer, is an excellent one.