I sold my Les Paul a few months back to partially fund the purchase of a taylor 614 and am feeling the void. I have been very impressed with the prs 408 and was wondering if anyone here has extensive time on one. I looks to be all I would want in a guitar and I am looking pretty hard at it. What do you guys think of them?
They sound good, but the switches and knobs are in totally goofy locations and the pickups are non-standard so you won't be able to experiment with new ones. Neither of those are awful things, and maybe they won't bother you, but I'd make very sure that you're comfortable with the layout and the sound before you buy. There's no shortage of PRS models, so if this one's not exactly perfect for you, find a different one.

Personally, I'd just get a Custom 24. PRS has this problem where the Custom 24 is so good that a lot of their other models like the 408, the Modern Eagle, the 513, are just a rehash of the 24 with some odd experiment thrown in to distinguish them. Some of them work well (like the P22), and some are impractical experiments that probably shouldn't have made it past prototype (like the 513).

Anyway, as with any PRS purchase, just make extra sure that really want this particular model instead of a C24.
you bring up a very good point. I have changed pups on about half of my guitars and love having the option to experiment. the 408 would have to be perfect tonally for me to choose it for that reason alone. hell I have a Agile 3100 that I threw some Antiquities in and its a totally different axe and pretty awesome actually. I think I might have to put on the brakes and get some time with the 408 personally before committing. thanks for the eye opener. I do love what I have heard and read about them so far though.
I owned a PRS Sig Ltd for a short while, the first production model with 408 pickups. Personally I was underwhelmed for the price. I traded it off with no regrets. I'd check out other models as well.