Before this falls off the page I thought I might add some additional information for future searchers.

Kenny Wilson over on the Cakewalk forums has posted on applying MG2 to a recorded track.

From his post:
"This file was done in SONAR , I took a Joe Pass Virtuoso track called All The Tings You Are and placed it into SONAR ...
The I placed MIDI -Guitar on the track as an effect / synth enabled ...
I pulled up Strum Acoustic set the track to record and as the Pass track played MIDI Guitar triggered the Strum Acoustic VST in real time ....
This is what I got ...I did not edit this file in any way ...the only thing I did was to pan Joe to one side and the strum acoustic to the other side ...
to be perfectly honest if I edited this I could make it sound a lot better ...the thing is unedited you can really see and hear how close MIDI Guitar had gotten on its own
http://soundclick.com/share.cfm?id=13311064 "

++Cakewalk++ post #7

I can confirm that this works equally as well on a Mac/Logic Pro X as it does in Sonar. Additionally, I have two Brian Moore guitars with RMC 13-pin pickups and a Roland GR30 synth (still touted as one of the best for MIDI conversion) and MG2 is much better at pitch to MIDI.

HTH - B