[Stratrat]

Correct. Sorry, I assumed (and you know what they say about that!) that you were talking about an acoustic-electric. Pretty much the only way you're going to be able to get effects on a straight acoustic guitar (aside from installing a pickup on it, which would make it an acoustic-electric anyways) would be to mic it and apply the effects to the mic'ed sound. Certainly not an optimal way to go about it.

If you just want to use it for the drum/rhythm sounds to play/record over, I'm sure it could be used that way - just plug it into your amp or recording interface, set the drum rhythm you want and play away!