Well, VERY basic setup with one mere single knob... But does it need anything more?
It doesn't provide the effects loop that its Boss counterpart does, though.
Well, all you expect from this noise reduction box is to... reduce noise, don't you? If such is the case, you can expect to be 100% satisfied. Whether it is a single-coil pickup noise or the typical hiss of a huge distortion box that annoys you, just find the right setting and you'll get your guitar sound -- your WHOLE guitar sound, NOTHING BUT your guitar sound. Hard to find a setting that will suit both your clean and saturated sounds though, so try to get a setting that is relatively hiss-free when distortion is off. It proved efficient in taming successively a SansAmp GT2 in Mesa simulation mode, a Zoom Tri-Metal (not too difficult though, this one has an integrated noise gate but the Decimator still removed whatever was left of noise), an EHX Metal Muff and a Big Muff boosted by an overdrive.
Since I don't use a proper amp I couldn't test it within an fx loop.
I've used this one for approximately one year now. A good addition to my home-studio-oriented rig, as it finally made exploitable some of the sounds that I'd been carving carefully for years (anyone who's played a GT2 in high gain settings or boosted a Big Muff will know what I'm talking about). A bit overpriced maybe (it did cost 169€ new if I remember well, but I got it used with the knob a bit messed up - but still usable- for 110 or 120 I think).
This is the first noise reducer I've used since the (very basic, sustain-killing) one that was included in my old multi-effects unit, and I'm really satisfied with it. Set it up carefully and it will respect carefully your guitar tones. Seems like a new evolution of it is about to be released, I can't wait to see what more it could bring (although I will most likely stick with this one which already perfectly suits my needs).