Yes, the T5's (of any flavor) really do a lot. But to get all of the capability that you see at Road Shows, you need an A/B box going into an acoustic amp or a PA, and separately into an electric guitar amp. In conjunction with the pickup selector and tone controls you get a wide range of tones.
Since I don't gig any more, my T5 classic is really a quiet practice guitar for late nights, and something comfy for when my shoulder is bothering me and I don't want to reach around a GA or GS body.