Yeah, its the switching stuff I'm most interested in. I like the idea of 'stealth guitars' - guitars that look normal til you look a little closer. My strat's a bit like that - looks 'traditional' enough but has plenty of little options in it.
I remember seeing onboard FX that you can mount, delays and so on. Which would probably sound terrible, what with the delay being first in your signal chain but still, all interesting.
I play through a JCM800, so I don't have many mids. Maybe a mid-boost could be a good thing for solos? Mind you, I'm not sold on active technologies.
Oh, and ever since I saw the Alesis Air FX in '99 ish, I've been wondering how long it would take til someone stuck one in a guitar!