The only problem I see is that you will need to desolder the external eeprom chip and reprogram it yourself.
Actually the 2-pin header on top connects to the data and clock pins of the EEPROM so you can do in-circuit programming, no de-soldering/soldering required.
Also keep in mind that this board probably isn't buffered for guitar use so you would still have to add additional circuitry that is already built-in to the tonepad layout. But you are correct, you wouldn't need to solder any SMT stuff.
True, that was with intent as many people like to put their own buffer in place depending on use (i.e. stomp box, in an amp, in a mixer, etc.), their preferred opamp, etc.
-Frank
OCT Distribution