Yes. The collet tensioners go bad over time and I have a few running cracks on the wrap of my FT, due to re-designed (lighter/cheaper to make) Beavertail lugs (I'm guessing).
I bought my Fullerton "Starlighter" in 1976, but it was an earlier Swivo-matic model. Through high school, college, and into my playing career, I loved that kit and never thought of selling it (practice/teaching kit now). Loved the sound of that Fullerton until a few years ago I happened upon a cherry 4 piece, blue glitter glass, Cleveland kit that were kept in cases for the last 30+ years....and Wow! What a difference! heavier Beavertails, easier to tune and a beautiful sustain.