The GameStop blurb also says that the guitar will allow players to manipulate sound through "reverb, flange, wah, delay and more." This thing looks great, but there is still absolutely no word yet on official pricing. It's time to talk cheddar and unless EA/MTV/Harmonix got some insane deals in manufacturing, we're starting to be just a tad concerned about the matter. Let's hope we can put a price on this music soon.
Update: Just to be clear about pricing, it's still up in the air. We contacted Harmonix and were told, "We have not finalized any pricing or packaging details for Rock Band at this point. Any speculation at this point is just that -- speculation."