I like the sounds that you can get from this amp. It's almost perfect for rehearsing with a large band as you don't need to set up a huge pedalboard to really get the sound you need for songs. The dirty channel is surprisingly and refreshingly versatile. There aren't any effects other than reverb and distortion, so don't expect much in that way. The manual is pretty much unnecessary but it's at least there if you need it.
I think that the clean tone on this amp is pretty awesome, if not phenomenal. Most Fender amps are usually pretty solid. I don't think there are many people who would be totally satisfied with the dirty tone on this amp. Functionally, it can cover a lot of stylistic ground from classic and country-rock to hard rock like Guns n' Roses. But it doesn't really compete with a Marshall stack or a good pedal. I'm sure that using the dirty channel in combination with a good pedal could result in some fantastic sounds. I think overall, though, that the dirty channel is weak. If you're just looking for the tube sound, I'd say go with a twin, it sounds better.
This amp is definitely a case of function over form. The tones work for rehearsals, like I said before. I wouldn't record anything with this amp, though. I also wouldn't really want to perform live with it. This might be good for up-and-comers more than seasoned vets. Think about that when purchasing.