The polyphonic editing is quite amazing, but in terms of the audio to MIDI conversion, expect to put some effort into preparing the audio in Melodyne first. You're going to have to go through it and check all of the notes because it will confuse some overtones with notes and has trouble recognizing notes an octave apart in a chord etc....usually it's just a case of toggling Melodyne blobs on or off though.
And when playing guitar to be converted to MIDI, you have to make sure of a number of things. First, that the recording is as clean as possible (the more overtones e.g. distortion, the more chance of inaccuracy). Then, you have to think about your playing technique a lot. For instance, imagine that you're looking to create some straight synth chords from guitar but you have a natural tendency to arpeggiate chords a little when plucking them. You have to think about playing all notes cleanly and simultaneously, unless you want a lot of editing work either in Melodyne or the PRV. And you may find that the velocities of the notes in your chord are all over the place when you convert them to MIDI. Again, you may have a lot of editing to do.
You basically have to pay a lot more attention to your guitar technique then when you would when recording a
guitar guitar part. Loose technique that adds character to a guitar part is almost guaranteed to sound terrible when converted to MIDI and played through a synth.
Basically it's not the guitar to MIDI nirvana that I thought it was going to be, but that's just down to me having unrealistic expectations I guess. When I think about what it does and how it's allowed me to get MIDI parts down that I would never have even attempted before, it's an extremely useful tool. And I'm finding that my guitar voicings sound great on keyboard
