The PSR-350 has pretty decent sounds. They are realistic and I think you'll find the quality good for the price. As far as muting tracks.., If memory serves me right there are like 5 or 6 tracks for recording on the 350, and I'm almost positive you can must them as well. It will work with GM, XG, ect. The only thing you might have to do is fine tune the keyboard... Your acoustic and the keyboard may be off slightly with the tuning.. It depends though.. Sometimes you don't have to worry about that, but with some you do...
Squeak
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GEAR: Yamaha MOXF-6, Casio MZX-500, Roland Juno-Di, M-Audio Venom, Roland RS-70, Yamaha PSR S700, M-Audio Axiom Pro-61 (Midi Controller). SOFTWARE: Mixcraft-7, PowerTracks Pro Audio 2013, Beat Thang Virtual, Dimension Le.