I always presumed it was by Jim Cregan. Could be wrong!

An extract from Jim's own website throws up this;

"Cregan then joined STEVE HARLEY and COCKNEY REBEL, where he stayed for 3 years. This association led to a series of hits including "Come Up and See Me, Make Me Smile" (featured in "The Full Monty"), which was #1 in Britain, Australia & Europe. The song featured an acoustic guitar solo that brought Jim's name to the attention of the U.K."

Thanks for putting me straight, Pru. No thanks, though, for being responsible for the demise of one of my pet theories. I'll get you outside when you leave.

Ha ha! I think that's also Jim playing on Rod Stewart's song 'I Was Only Joking,' which always reminds me at certain moments of that Cockney Rebel solo.

Jim Cregan played that solo. I know . I was there.

I love threads like this. I never knew who played the guitar solo on "Make Me Smile". I though Jim Cregan was a great guitarist, and he toured with Rod during his most creative period. I saw him live dozens of time. In fact, a girlfriend at the time thought he was wonderful. I remember an occasion at the NEC in Birmingham, where girls were climbing on to the stage to "show their affection" to Rod, and the bouncers trying to deflect them. My friend climbed on to the stage and ran in the opposite direction to "say hello" to Jim. That totally threw security!!