Ric Ocasek once said that if the song is really good, it doesn't matter how it's played; it's still a good song. When Dave Grohl played "Everlong" with an acoustic guitar, Howard Stern said "the song holds up." And after Beck played Flaming Lips' "Do You Realize" solo acoustic, KCRW's Nic Harcourt said "That's a whole new take on a Flaming Lips song," and Beck replied, "It's a good song." Maybe that's the test of a song: take everything away except an acoustic guitar and the vocal, and if it stands up when stripped bare, it's good.
Listen to these three songs that Arctic Monkeys' Alex & Jamie played with nothing but acoustic guitar for Minnesota Public Radio's The Current. They "hold up." This band writes damn good songs.
Arctic Monkeys - Live, Acoustic, on The Current (8 May 2007) (mp3s):
3. Fluorescent Adolescent
1. The Bakery
2. Only Ones Who Know
Own Favourite Worst Nightmare.