I have one - the "premium" version that comes with the nice case and has the dual source (under saddle + mic) pickup system. And, of course, the hand-signed COA and a copy of the Acoustic Classics album. It's a nice guitar, given that it is an Epiphone and made in Indonesia. Body is very close to my 2005 Epiphone EJ160-E. As I recall the EJ160-E has a little longer neck. Not unlike the EJ 160, this is a fairly heavy guitar, but I suspect the LR Baggs pickup system with battery accounts for some of that. I was able to try out the Frampton Texan at a local guitar store rather than buying sight unseen online. The guitar store had a Fishman Loudbox Artist amp - same one I use - so I was able to plug the Texan into that to see how it sounded, and I liked the sound. I haven't played with the "Mix" control, which I think allows you to blend the undersaddle and mic sounds. Nice finish on the Texan - that lighter sunburst. So I am happy with it.
Listen, everybody's taste in guitars is different. At $1,200, it's not cheap. But I am guessing it's priced to account for the guitar itself in its quality bracket, the nicer Epiphone-branded case (which is really nice), the LR Baggs pickup system (which is supposedly the one Frampton uses in some of his acoustics). Add the that the hand-signed COA and Frampton's royalty for using his name. But if you bought a basic current IB Texan and installed this pickup system and then bought a nice case, you know, you are starting to get near the selling price. They do sell the non-premium version, but it's a different LR Baggs pickup system, and you get no case included or the hand-signed COA (if that matters). The purchase was intended as kind of just for fun purchase (I surely didn't need another acoustic). But I was enthralled with Peter's Acoustic Classics album and treatment of his signature songs, and decided to own the premium version of this guitar. I have a few other "signature" guitars of artists I have admired and personally I get a kick out of owning these. Others might think it's a waste of money. On the other hand, owning more than one guitar could be viewed as a waste of money. Whatever.
I plan to do some acoustic gigs with it in the near future and see how it does.