What do terms like “rebuilt” and “recondition” and “regulation” mean?
Repairing a piano means to get it into playing condition. Meaning all the notes work. Often, other than tuning, this is enough.
Reconditioning a piano means working with existing parts to restore reliable and pleasing operation to the extent possible. Some new parts may be installed as needed, and the piano is partially or completely regulated. The soundboard may be repaired if needed.
Regulation is the alignment of moving parts to the best functioning parameters possible. A typical action regulation comes after a good reconditioning or rebuilding.
Rebuilding involves entire sets of new parts: From all new hammers, to a whole new piano action, including hammers. It can involve replacing the strings and pinblock, or even the soundboard as well.