i don´t really think there´s anything bad about endorsing something like peavey for guitars. when you´re an endorsee, you get the top-quality stuff, and you get exactly what you ask them for. i´m sure the custom shop guitars aren´t made by the people who put together the amps, and they probably aren´t designed by the amp designers, and they´re not mass-produced. they probably have good luthiers
remember Wes from limp bizkit getting a signature with yamaha, and everyone going "omgwtfyamahasux!"? when actually, the quality of what they made for him was really good, and innovative as well.
i´m sure it´s going to rule at least as much as his ESP stuff, and the one in the pic looks really really nice!
and about vintage stuff, it´s kinda wrong to say that devin is doing vintage stuff, considering he doesn´t play anything remotely vintage with it :P