It is a noise gate, barely.
For the normal player that just wants to keep the excess noise down during play-breaks, this is a fine option.
HOWEVER...
This gate is anything but fast, or neutral in its sound.
the Attack is reasonable, but honestly I find it too slow. The same goes for the decay. Threshold is (again) also a bit wierd.
I realize I seem to just be pointing out the negative... So here are some pro's :
It's built quite well.
If you want a noise/hiss killer for non-playing moments, this will do just fine, but using it musically is a different matter...
ease of use... it only has two knobs, and they work.
when the gate is closed, it is truely noiseless.
I would advise this little gate for a home-player/practice room setup, so that the guitar noise doesn't irritate your bandmates to club you to death with the nearest mic-stand.
Other than that: if you want a gate you can use musically, this is not it. it's just too slow. Invest in a better gate if you want that :)