I tried one and thought it was quite good but I prefer real guitars to modelled guitars even if I have to actually do the retuning myself. Basically if you want a digital guitar system get the Ronald VG 99 (same technology) and you will have far more flexibility.
Although the VG strat is good - the only advantage it has over the VG 99 system is that there are fewer cables and it is less complicated - Fender seem to be marketing the guitar as 'learn how to use it in 5 minutes'. The VG 99 will take you a month to learn fully.
Check out the video on the roland site and you will see what I mean.
Roland U.S. - VG-99: V-Guitar System