Yeah, it might look like real play wear, but my question is WHY?
It's easy enough to beat up a guitar by playing the crap out of it and not being careful with it. Get rid of the nice stand and just lean it in the corner of the stucco wall, let it fall down a few times. Lay it on the ground when you're not playing it. Leave it in the trunk in the middle of winter, then bring it in the house to play it. Wear a big ol' pointy metal buckle and sling that guitar low.
I don't need street cred to come from my guitar's wear and tear.
Now, if you're actually trying to recreate a famous guitar, like SRV's #1 Strat, I can see that as a goal, like making a copy of the Mona Lisa. Good for a collector, or for someone who is doing a SRV based show, much like Beatles imitators. But to think that fake wear makes it sound like an old guitar is too much of a stretch for me.