If someone were to turn Raymond Scott's "Powerhouse" into a solo guitar piece, that someone would be THE guitar picker. "Powerhouse" is that insane jazz piece from the thirties that end up in about a zillion cartoons. Give it a try.
Until that time, I have to vote for "Freight Train" transpositions. As I once heard a local picker lambaste his duet partner onstage, "There's a right way to play it wrong, then there's the wrong way to play it wrong!"