It's been a while since i've plugged it in, but i'm dying to try it through my GT-6 with various amps. I seem to recall the tone being somewhat gnarly (in a funky way). The frets on the thing are REALLY low and the string spacing is quite tight, so i was actually thinking of raising up the nut and bridge and making it a downtuned slide guitar.
It does look like real abalone on the inlays, and the binding is like 7-ply ivory and black. The flamed maple top and back are actually quite nice, as is the neck wood. And given how thin it is, it's surprisingly heavy. There must be some really dense particleboard underneath those veneers.
Here's a shot of the back: