Thanks for the positive comments guys.
I 'unmasked' the fretboard and found that the binding was mostly clean with just a bit of scraping to do in a couple of area.

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JohnH I am very impressed with your acoustic refurb thread.
You have inspired me to dig out my first guitar. It is a sorry looking, cheap and nasty nylon strung acoustic which has been long neglected. My next project will be to see if I can inject some life back into it :-)