In my experience, as long as you are playing in a great sounding room, its true, nothing matches a mic. But this comment is misleading because it does not take into account the highly variable nature of room acoustics in live performance venues. If you are gigging a lot it doesn't take too long to run into a situation where its either difficult to get a mic to cut through the mix (noisy bars, large disinterested crowds, echoey halls, etc) or difficult to shape your sound to get the desired effect through a mic, whether with EQ or spatial effects. So if you are playing in concert halls I would tend to agree that a mic may sound better than a pickup. FWIW, I'm not against mics! I do use them from time to time.
And - YES - when it comes to squareneck resonator guitars - the Fishman Nashville Series pickup/Aura combination has effectively resolved the old issues with resonator guitar pickups and in 95% of the live performance venues I've used it in its worked very well. In fact I prefer it greatly to any microphone I've ever used because it gives me a lot more control over shaping the way my guitar cuts through the mix.
Of course, as they say YMMV.
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