Info here http://jamorigin.com/midi-guitar-2-release-notes/. Glad to see this is still being developed. I expect those who already own it have received (or will soon receive) the email with a link to the beta.

Thanks Scook!!!
 
I was very interested in #1 on the list and very glad to hear more developed on it....
 
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1. It is much more sensitive than version 1, and even in the fastest legato runs it is unlikely to ever miss a note.
2. There are no longer any tracking setup options. It just works.
3. The velocity response is much greatly improved and it does indeed seem to translate into an improved feel.
4. Tracking is more robust across various kind of guitars and playing styles. Indeed the same technology will be soon powering software for other instruments (bass and violin are first in line).
5. Latency was reduced, especially for the monophonic setting and generally on hollow body and half-acoustic guitars.

All that said, I certainly don’t want to claim everything is solved by now or that MIDI Guitar 2 is perfect, but I hope you too will experience that it has come a long way.
There are currently a few caveats to the above:

• First, the high sensitivity means that it picks up everything. It might be a problem for some players, especially when driving not-so-velocity-sensitive synths. We found that sloppy guitar players usually like the higher sensitivity as notes will be picked up even with sloppy articulations, but they will have to be careful to not trigger a wrong note. We will make some adjustments in the next BETAs based upon user feedback so please let us know how you feel.
• Related to this, the monophonic tracking is faster than ever, but it might be a little too wild at the moment, and we expect it to have an update for that within a couple of weeks.
• Finally, there is actually one setup option. It’s a noise gate but it is easy to deal with as it only has effect when you are not playing. It is the only means you have to interact with the tracking system. One thing to keep in mind is that for fast legato runs you might need to turn down this noise gate (to pick up very soft notes).

 
 

When Mesh says he can do the solo to Communication Breakdown and it plays as a violin perfectly I'll spring the C Note for this product.
 
Better still, iffin it was $49 I'd be all over it.

Buy the guitar version, get the bass version free. That would put the guitar version close to $49. Unfortunately, the bass version is useless as a plug-in for me at the moment. Hoping bass v2 works better.

bapu
When Mesh says he can do the solo to Communication Breakdown and it plays as a violin perfectly I'll spring the C Note for this product.
 
Better still, iffin it was $49 I'd be all over it.

If you have a good imagination, I can even make it sound something like Communication Breakdown.  
I think it's worth the C Note price tag as it tracks very well too..........the only issue I had with MG1 was that it had a tough time keeping up to faster playing (leads etc...) and hopefully that's not the case anymore.

bapu
Better still, iffin it was $49 I'd be all over it.

At the current asking price it's already one heck of a lot cheaper than a Roland system.

I want to check this out and see he well it works. I tried a pervious version and apparently my signal was so weak it could barely detect it. I emailed the developer, but go no response. If this works better it would be great, but I need to make sure it works before I drop $100 on it.
 
Also a new company called Migic is coming out with a competing product. I tried the beta and I was surprised by how fast it tracked. The legato and bend tracking are amazing. The latest version isn't working with sonar but he said he's trying to fix that. He also said that he will add polyphonic mode to the release(which will be less than $100). 
 
I'm excited to see which one is better.

I've downloaded the beta...

Doesn't work too well for me.
 
For starters, it does not recognise my Roland QUAD-CAPTURE as an ASIO device and instead the Audio Device Type is listed as Windows Audio. My QUAD-CAPTURE is listed there, but surely I should be using it as an ASIO device, not Windows Audio.
 
When I select ASIO from the drop down, MG2 crashes/closes and at the same time it crashes my QUAD-CAPTURE.
 
I've sent a message to Jam Origin via their contact page.
 
On top of that, I'm a little put off by the delay between me playing a note on my guitar and the sound playing. Might be me... Might be the fact that I can't use my QUAD-CAPTURE as an ASIO device.
 
A shame that, because I really wanted this to work. I've always wanted to have a MIDI guitar and the hardware stuff never really cut it for me. Having spent many a year going to test the latest Roland hardware, I eventually gave up.
 
So I'm routing for Jam Origin to make this work...

So anyone using the beta ? I bought this a while back, and it works fine for me, not perfect, but what is ? but it is very useable and much fun to mess around with, I like it a lot. Don't usually mess around with 'beta' stuff, but if it was a step forward and caused no problems I'd probably give the beta it a whirl, been thinking about it since I got the email the other day.