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Weird 70's Ibanez... thing

So, I just bought a 79 Ibanez PJ and was browsing 70's ibanez catalogues to see what else they did. The instruments had cool finishes, and those coloured backgrounds will probably be Apple's "new look".

I came across these Electric Guitars. One was "tranceparent" (Trance-Parent? British?) and had this white elephant of gear behind it that apparently needed no mention. I mean, the guitars are just called "ELECTRIC GUITAR Model No.2634".

It is a "[Something] 500". Is it a vintage multi-effects unit? A modular synthesizer? Also note those knobs by the bridge.

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WHAT IS THIS!?
 
It's grouping with this bass and it's amp suggests to me it's a head, but that doesn't explain all those knobs on the guitar!
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EDIT:
I missed those resposnses, sorry. A PA... that looks about right.
 
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