I learned about the Acoustic 700 only a few years ago, but I absolutely love it. I play in a variety band and it's just fantastic to have the ability to instantly use an Open E or open A tuning with the push of a button. Or de-tune one half step, or 1 full step down, and then instantly back to standard tuning. No need to change guitars or waste time de-tuning during a performance. That feature ALONE makes it worthwhile.
Then of course you can switch to a 12-string sound instantly (no need to bring another guitar with you). The gimmick tones like a sitar or banjo are fine, but you hardly ever use them. It's really the ability to de-tune instantly, and have a 12 string "sound" for a few songs per night.
Personally, I think the Dread tone and Jumbo tones are REALLY nice too. Are the tones just as good as "real" acoustic guitar? Is the 12-string model as good as playing a real 12-string? No. Of course not. But I have to say, the tones are pretty darn good! Absolutely worthy of playing in a live setting.
And practicality of that de-tuning feature the Acoustic 700 offers during a live performance on stage (with no acoustic feedback issues, I should add) makes it a no brainer to own.
I have 2 of them now, just in case (eventually) one of them craps out on me and wont' be repairable. You can pick up a fully working Acoustic 700 for around $650 (give or take) as of late 2021. You just can't go wrong.
BTW, I have a standard Electric Variax too, which is nice, but I enjoy the look and feel and certain tones of the Acoustic 700 way better. Even the nylon string sound in the Acoustic 700 is "close enough" to a real nylon string guitar to use in a live setting (for 1 or 2 short musical sections during the night).
Just my 2 cents in case somebody out there is interested.
Dan (in Milwaukee, WI)