personally I was really looking forward to purchasing this pedal after hearing about it. The option of not having to plug-in an acoustic guitar for one song or two and have to worry about its feedback seemed excellent. Unfortunately I found this pedal to be very muddy unless playing lead riffs or very slow chords, anything with a faster tempo or that should translate feeling by how hard you might be strumming, just gets muddy and kind of fuzzy and you loose that acoustic feel. I could be wrong as I havent used mine in a while, but perhaps everyone else can lend their opinion to this.
I have the same experience as Dingus mentioned above. The sound tend to get muddy real easy. I got a fairly good result running it through my jazz chorus but through my Marshaal Avt I couldn't get a good result no matter how much I tweaked its settings.
I got one and I use it a lot. I might not be picky enough to judge if it sounds exactly like an acustic. At least this is what I think is close enough to at least an amplified acustic.
However, I'm picky enough to find that it doesn't sound close enough when used with a humbucker. With a humbucker you will be disapointed.
I tried it with a split humbucker on a PRS and a Gibson 335 and then it sounds really good.
There is a BOSS-"clone" from Behringer that might do exactly the same job for a fraction of the money if you are on a budget.