Hi Scott.
Under each saddle piece is a Fishman Piezo transducer pickup. There is a separate volume control that can be blended with the guitars magnetic pickup if desired.
I've had this guitar for just over three years now. It works well for me for many different styles of music, and I believe having something versitile was one of the reason's you were looking into piezo's in the first place. The stereo input jack on mine has been flaky, and I've had to tweak it a few times to ensure it makes good contact with the cable. Time for me to just get a quality replacement and be done with it.
I don't find I get a great sound when plugged through a tube amp, but I've had good luck with it through my JC120 which is a very neutral amp as far as colouring your sound goes.
The AC-2 I have was purchased 2nd hand, and I don't think I'd want to pay full price for a new one... but if you can find one used at a decent price, look into one. I've never tried the AC-3, but imagine it's a decent unit.
If you can find a place to try out this guitar, then look for a used one it might me a better alternative to modding an existing guitar. A used Tele 2 years down the road will likely get you close to what you paid if you decide to move onto something else.
I wish I had some recording software set up on my pc at the moment and I'd record something quick and dirty for you, but I don't right now... sorry.
Gearlist:
Electric: Ibanez 'AS103', Fender Dlx Nash Pwr Tele, Fender Squier '62 JV Strat, Squier '51, Squier 60's Classic Vibe Strat, Epi Elite LP Studio, Hagstrom Swede Acoustic: Larrivee LV-03RE, A&L AMI, Yamaha FG340-T Bass: Yamaha BB 450 Amps: Roland JC-120, JC-50, Peavey Classic 30, Fender Super Champ XD Pedals: Marshall Guv'nor Plus, Danelectro Cool Cat Drive, Transparent Overdrive, Digitech Digiverb, Bad Monkey, Ibanez TS-9, Boss AC-2, CE-5, CS-2, DD-3, DF-2, DS-1, FV-100, GE-7, OC-2, PSM-5, SD-1, TU-2, DVM~BYOC 'Lush Puppy' Chorus