Its as good as it gets with software.
For rhythm there are two options. Use the built in strum sequencer, or my prefered method trigger the strums from a keyboard and record on a midi track. This way you get twelve user definable articualtions (ie up stroke, down stroke, mutes, different strum speeds, top "n" strings only, etc.)
Each preset has its own but you can define your own chord vocings. Three alternative voicings are set up to change with the mod wheel position. There is a learning curve but it can sound very good.
Of course you will need an Amp sim too. It's recorded straight from the pickups.
Greg is working on a update - there is a thread on KVR, which should make it better.
Cheaper, less versatile, but more intuitive (to me at least) is Indiginus' Torch Guitar.