You've seen Logitech's $200 guitar for the PS2 & PS3. It is not kidding around. Now see the 360 version, which courtesy of a hot orange paint scheme, is kidding around.
It transforms the guitar from "menacing metal axe" to "hair metal plaything", though really, the changes are only skin-deep. It's the same professionally-built guitar as the last one we saw, only for the Xbox 360. It's still $200, and it still looks pretty great.
That is, you can justify spending $200 on a guitar peripheral...which few of you probably could.