I was reading in Blender magazine the other day, (no I do not subscribe) about this guy that takes the sound out of a guitarists video and plays what it LOOKS like they are playing. The vids are all over the net and while not hilarious he did manage to get on National TV while the writer strike was going on I was assume. You can see him here. Then if you want to see what I am talking about, check him out playing what it looks like Eddie Van Halen is playing.
I found one on Iron Maiden, Judas Priest and many more. At you tube type in your favorite artist, and shreds...ie Eddie Van Halen shreds, Iron Maiden Shreds. There are supposed to be many more but can only find these. The Santana one is pretty funny.