I just got my Erhlund EAP Pickup with the Ehrlund Preamp. All I can say is that this thing is really the pickup I've been searching for for years. Based on descriptions, I did have some high hopes for it, and now that I've been playing with it, it really has exceeded my hopes. I A/B'd it against my microphones (Audio Technica Condensers, Shure Beta 57 with H clamp) through headphones, and this really does sound just like a microphone - without the feedback. Nice and warm and woody. I performed with it this weekend as well, and it really delivers. I have been playing it through my Markbass CMD102P combo amp, and it is surprising how LOUD it can go without feeding back. I don't how they did it, but the design of this thing is really amazing. I've tried about every pickup out there (Full Circle, Rev Solo II, Vektor, Underwood, Bassmax, Realist, etc etc) and I say this new Ehrlund is the pickup to beat.
It takes a little experimenting to find the sweet spot (my sweet spot is on the treble side in the lower left area of the F hole), but once you find it and put it there, you leave it there and this thing sounds consistently great. As others have noted here, the cable is very microphonic and picks up a terrible amount of noise if you bump the cable in any way. My solution to this was to wrap the cable up with the preamp, and mount the preamp under the tailpiece/afterlength area, so the cable is not able to move at all, and the noise problem is solved. I just plug my cable into the output cable of the preamp into my amp(leaving the input cable in permanently) and there's no extraneous noise.
Some here have said this must be a piezo, but this doesn't sound like any piezo I've tried, as there's no quacky whiny piezo quality to it at all. It sounds like a microphone, without the bleed and without the feedback that comes with a mic.
Time for my H clamp, mics, and piezos to go the way of the classifieds!