There are two Godfrey ukes, the Deluxe and the Standard. Both are the same uke with minor flourishes on the details on the Deluxe. Despite Godfrey's popularity, the ukes are essentially the same instrument as Harmony and Regal offerings from the same period, and you can get those, and the Vegas, for less than $200. And I agree with Tommy that the Vega is simply not as resonant, not in the same class, as a Martin - or Gibson or Favilla for that matter.
Vintage baritones are really undervalued now, so it's a good time to get one. There are several decent ones on eBay right now that can be gotten for less than $200 - A Regal "stadium" for $100 in excellent shape and three or four Harmonies ranging from $39 to $150 or so. Two Godfrey Vega models came down yesterday, one for $125 and a second for $69 (thought this one had a bridge re-set and needed much work). There are two Godfrey Vega models up now at $200+ and $399 and both are in condition that doesn't warrant anywhere near those Buy It Now prices - they're just not that good. I think, unless its in Very Good to Excellent condition, there's no point in spending more than $175 for a Vega Godfrey model. But - you do have the advantage of being able to go and see what it is, and that's worth a LOT, plus no shipping.
Favilla, on the other hand, CAN be had for this price and it's the best of the best of Baritone ukes, up there in quality with Martin and Gibson and more affordable. Here's one right now, which I would bid on in a second if I was in the market for a Favilla.
http://www.ebay.com/itm/Favilla-Baritone-Ukulele-Uke-Model-B-2-Excellent-Condition-Circa-1960-/261014002370?pt=LH_DefaultDomain_0&hash=item3cc5a59ac2#ht_500wt_1219 and here's another - despite the crack, I think it's nearly as desirable as the first one:
http://www.ebay.com/itm/Vintage-Herk-Favilla-B2-B-2-Baritone-Ukulele-Uke-/150807268268?pt=LH_DefaultDomain_0&hash=item231cd04bac#ht_500wt_1219
I know I'm putting a lot of eBay up here, but I have never had a bad experience with eBay, and I've bought maybe 12 instruments over time and never had to return one. As long as everything is as represented in the photos, and as long as they answer my questions (I always ask them to post or email photos of the neck from the tailpiece to the nut so I can see how straight or crooked it is), I've always gotten my answers before putting in the bid and never been surprised.