The SE Singlecut does have the all Mahogany thing with Maple cap. It's got a thinner body than a les paul (just like a Heritage 140CM) but a fat wide neck with the slightly longer scale.
That means great acoustic qualities with more space on the neck both ways, in length and width.
Regarding quality, I can say there's not much on it, but the stuff that is there is absolutely flawless, at least on mine. Pickups are OK for a while, but I am waiting for my VHIIs to arrive for it.
Might be worth looking at the new semi hollow SE though.