Braguesa, I total agree with you... the iRig Acoustic is what it is, a 50 buck stick on mic. It's being marketed very well. As somebody pointed out if you have a condenser mic and saturate it by placing it an inch away from a source it will distort. Unfortunately I have a few guitars which are really loud and it does just this. I'm not knocking the product.
I guess it isn't designed either for a weissenborn either, which are really loud when played with steel picks. It over saturates the mic' completely. But then again maybe it was never tested with one or its intended use.
I'm sure this isn't for everyone. I did see someone say the got a reply saying it wasn't suitable for all acoustic guitars. Maybe a disclaimer should be written into its usage.
I'm sure it doesn't suit everyones requirements. Great concept but if they iron out these problems and produced HD model I would buy. I also wouldn't gig with it, I'm very good with gear but the cable is so thin you could easily stand on this and snap it.
These are only observations and I'm not pointing a finger at IK and saying this is a POS.