I have opted to give this 4 stars, only for the fact that it will never beat the real thing. What it does do however is save you hundreds of pounds if you only have a few songs in your set that require an acoustic guitar. I play in a couple of bands (function and originals) but still don't require to shell out on a decent electro acoustic just yet.
This is designed for that sole purpose and if you are intending to play a full set of acoustic songs on an electric guitar, buy an electro-acoustic guitar!! Also forget any notion that this will work through an electric guitar amp, Ive tried both my Les Paul Traditional and a 69' Thinline Tele (two guitars at opposite ends of the spectrum) through my Fender Hot Rod Deluxe and it didn't make any difference at all apart from cleaning up the Les Paul. It is designed to send the acoustic signal to the PA. So before you buy, please consider this as it's not very well advertised that way.
I will never use this pedal at home and only ever plug it in through a DI box going to my PA. I have dedicated a channel on the PA to this and spent a lot of time concetrating on the EQ to get rid of the hiss. (Take the high end frequencies off!) Also forget using a battery as it will drain quickly with this thing.
The one advantage it does have is that I can instantly switch between an overdriven electric going through my chain to the guitar amp to a passable acoustic guitar sound and back. The only people in the crowd that will notice are those annoying muso types that have a problem with everything anyway!
This is a very niche pedal and I would only recommend this to people who play in a band that gigs regularly with their own PA and/or soundman.
I wouldn't trust the sound guy at the local venue you have just rolled into to get the EQ right for this (with no soundcheck, just the usual "lead guitar, can I get a line check?") as it does take a lot of fettling to make it sound good.
All that aside, it has the usual bomb proof Boss quality (you could fling it down some concrete stairs with no worries) and its easy to get a hang of the controls.