It just makes my guitars sound better :D It is transparent in the way that the guitar's character comes accross (the attack, the decay, the frequency character of the guitar) and it does not compress too much, especially at lower gain levels. It is not transparent with regards to the overall EQ, it cuts bass and adds treble, so it is not a Timmy for example. You need to adjust all the controls every time you adjust one, e.g. adding gain increases the output level and treble, so you have to turn down the level and the tone knobs. But that's how the circuit is designed, I assume. No biggie.The gain knob doesn't do much until it is way up.
One drawback is that the level knob needs to be bery high, the pedal does not have much output and probably can't be used to push an amp. With low gain, it barely achieves unity gain.
Very satisfied with it, amazing sound for a great price.