Setting up the Lexicon 960L isn't very easy, although since I wasn't around when they installed this in the studio that I've used it in, I can't speak about the process at any sort of length. However, once you do have it up and running, I think you'll find that using it isn't all that hard. There is a ton amount of control over the different effects, it is really just a matter of learning the interface and getting used to the different screens. The manual for the 960L is very complete and thorough and is a very good thing to have around when trying to learn how to use this.
The tones that are possible with the Lexicon 960L are definitely sounds that you would expect from a high quality Lexicon unit. Of course the reverb sounds are really where the 960L earns its worth, but you've got just about every type of sound I can think of with the 960L. Everything comes in crystal clear, as each effect is certainly of a very high quality. Having control with the remote is really awesome, as it gives you complete control in the palms of your hands.
You've got 16 channels of I/O with the Lexicon 960L, which is really what makes this unit what it is. It also makes it a very expensive effects unit! This is definitely designed for professionals in mind, and I wouldn't ever recommend this for a home studio owner as it is simply too pricey. It would of course be a nice thing to have, but isn't a necessity since you can get these sorts of sounds for cheaper inside of the box, although they might not sound as great. If you're looking for the ultimate effects unit in one place, the Lexicon 960L is as good of any way to go.