A few years ago, the great Kentucky thumbpicker Eddie Pennington recorded a guitar version of the fiddle tune Stone's Rag. I borrowed copiously from Eddie's arrangement, though I play it in more of a John Hurt style than Eddie's Merle Travis-inspired style. Please check out Eddie's many YouTube videos and buy his CDs.
Stone's Rag is a good tune for playing variations of the melody over the alternating bass, but this time I'm playing it pretty straight. The guitar is a 1930 Martin belly bridge OM-28.