I was looking for a good compressor for my pedalboard mostly for funky single note lines and chords, not so much for sustain enhancing. I mostly use it with a Strat. First I considered to get the classic DynaComp (also MXR) but then went with this one because I wanted the additional attack knob for more control. I think this was a good decision as it really adds a lot of flexibility. Not sure how big the difference is in tone from the DynaComp but I am happy with this one.
Sound wise, I'm not after a subtle effect but one you can actually hear, sometimes on the edge of pumping - to get funky, driving lines. This works really well, I have no difficulties at all to find good settings at all. It is a bit noisy, though. When I use it with a high gain setting, that's noticeable but not terrible (and since I use a Strat, I'm used to noise anyway).
Quality wise the pedal is typical MXR, built like a tank, not much more to say in this regard.