I own a similar product, the Dean Markley Promag, for my other acoustic guitar, and I wanted a second one for my guitar with Nashville tuning. I must say, "I am diggin' it!"
I use the TrueTone SH-20 for live settings and to record demos quickly when I am not in the opportunity to set up three mics and do a full soundcheck. It is an easy way to get what's in your mind, through your interface, into your computer.
The sound is "acoustic-ish" and pretty similar to the cheaper Fishman pickup sets; however, you have to realize that you will not get a "true" acoustic sound out of a device like this.
It is nice and it does what it is supposed to do.