A few notes from a fellow guitar builder about those Microplane Rotary Shapers :
I haven't had too much trouble with them at all, once I got used to them. The biggest issue is that the drill press isn't really designed to take horizontal force, so if you push hard into the press, your cuts might be a little less than perfect.
I wrap a few layers of electrical tape around the roller, so I don't get too close to the finished cut line. The router bit does the final finishing cuts, but for the most part it is prety light work at that point. I don't have a roto sander, but that looks like it would definately finish the job.
I only use these for the outline of the body, they won't help anywhere else. Really dense wood (Rock maple or Black Walnut) cuts much slower and I found that reducing the speed of the press helps (I initially thought that increasing it would work better).
I do alot of work late at night, and these things don't make much noise at all. I think that this is probably their biggest advantage.
They look a little flimsy, but I haven't gone through any blades yet (I've probably cut between 12 and 20 bodies with them so far), I haven't had any problems with them clogging up either.