I principally use the SLG200N for practice when the kids are asleep. Simple as that. Ideas that come in the night need not wake up anybody anymore, as the actual un-amplified sound is about as quiet as an unplugged electric guitar.
It feels and behaves like a nylon-strung guitar, as it is. I play folk fingerstyle on steel and nylon electroacoustic normal guitars, so it has a place with my regular collection. The setup is classic Yamaha accurate - precise and built for discerning musicians.
Pros: it's a proper guitar for practice that sounds good through earphones or amplified.
Cons: only being slightly picky, but the limitation to just one microphone emulation narrows things, but I use my Yamaha THR5A practice amp/preamp (obviously through headphones if I want to be quiet) and then it genuinely rocks sonically.
Conclusion: this is a very good silent practice guitar, that actually plugged and loud (like through the THR5 and perhaps onwards to something louder) is right up there as a good stage instrument. I really, really like it.