The specs need to match me. If they do, I don't care if it's a sig for somebody I like or somebody whose music puts me into insta sleep. If the guitar is cool, it's cool. Though I tend to avoid gaudy/obvious sigs. Understated might win me over if the specs are right.
Like Brendon Small's Thunderhorse. That's just a damn cool guitar, period. Silverburst Explorer with Burstbuckers? Yes, thanks.
Of course, I am a Brendon fanboy since home movies, but if that guitar was an ugly, non-specced out pile of garbage, it would have never tripped my trigger.
Wouldn't hate a Kerry King V if he ever had a sig that wasn't tribal stamped so bad it looks like it should be in a suicide girls shoot. I like the specs and body styling (except for that new Dean with the pinchers on the end, yuck), but hate the paint jobs.
Basically, if a sig is going to catch my attention the artist creating it needs to keep their horrible taste to themselves. Otherwise, I'll go looking for a non-puke inducing guitar.