Good idea and tribute. I think that the mic stand is a minus - too in-your-face and distracting. With the shades, a little more lighting on the face would probably be better, without loosing the illusion.
Very good use of lighting here and I love how the mic stand and the neck of the guitar form opposing diagonals. :) Also, VERY nice touch shooting at a higher ISO to give it that older, grainy look!
At first, I thought the mic in front was distracting, but it leads the eye to the strings flapping around up in the top right. I like that little detail. Nicely done on the lighting as well.