The effects editing on this pedal is pretty easy. There are 8 levers that control the input level, the dry (no effect) output signal, and the output for each octave setting (sub octave, +1 octave, +1 octave detuned, +2 octave, +2 octave detuned) and there's also a low pass filter. They all generally sound pretty good. The setup is pretty basic, and everything is really obvious and simple to use. The manual explains everything clearly, you'll only need to read it once, if at all.
I have only used this with electric guitars. The pedal is pretty transparent if you are only running the dry signal. Obviously, the more octaves you add, the more it gets messed it. The sounds I really like are the twelve string effect (+1, +1 detuned), and the organ effect (all of the octave switches thrown). The organ sound in particular is amazing, obviously it doesn't sound that much like a real organ but it's polyphony and richness of tone are incredible. You can get sounds that I never dreamed possible out of a guitar. I like almost every sound. I tend not to use the sub octave by itself as much, unless I'm trying to replicate bass (which I usually don't do anyway). I like the sound of everything else.
This pedal is unlike anything I've tried before. I've used octave pedals but none of them have the flexibility and range of this one. I think that it's a pretty reasonably priced pedal, but as always, try to get it used. It sounds great and clear, it can do a lot of things. I would highly recommend it to anybody.