Here's one from Fender...The new Acoustasonic Telecaster - from what I see/hear it's fender's take on the Line6 Variax, with a acoustic twist.
Here's a review from Acousticguitar
and a neat video from Reverb (I like the loop demo)
If you want more, check out Anderton's Danish Pete lay down a sick demo
My 2c...sounds pretty good....but it lacks it's own voice - which is what I associate with Fender- You know a strat/tele/pbass/jazz bass/mustang when you hear it.
So more of a tool for the gigging muso/studio guy than a sound you know you want?
One thing I reckon they missed was adding a 12 string model - having played around with a Line6 variax guitar - the 12 string modelling was good and I could easily see a gigging muso retiring the extra 12 string and rather carrying around a variax.
What did they get right? Adding a body pickup to one of the models, so you can get percussive effects out of it - very cool. The blend knob between voicings is also a potenitally good idea - I like that.
I guess, if you need a range of acoustic tones you'd go for the Acousticsonic, but if you need a range of electric tones, you'd probably still get the Variax.
At a street price of $1600,...errrrmmm. That's firmly in new Martin/Taylor territory. So I'm still thinking you'd be better off with a 2nd hand Martin/Taylor and a 2nd hand Tele - but that's just me...