After a few weeks of recordings, gigs and rehearsals, I can honestly say: this is a very serious bass tool.
I use it in gigs as a direct box - on bypass, it delivers a very high quality direct signal, which is cool. But the true wow moment is when it's on. The majority of the gigs are played with no amp, monitored with in ears. What this box does to my tone is unbelievable. With the character knob between 9 and 11 o'clock and speaker simulator engaged, the high frequencies never sound metallic or clicky. The low end is huge, up to the point they need to be cut with the EQ. The drive adds more character, and together they deliver a huge tone. Fingers, pick, thumb, slap, it all sound much much better than a simple direct signal. This box does exactly what it's designed to do, and nothing less.
In recordings, I use it as an overdrive, in parallel to the clean signal. With the character knob turned above 2 o'clock, it delivers a real bad ass drive, which is very dynamic, touch sensitive and rich in harmonics. it's recommended to blend in the dry signal in that application, simply because the lows decrease dramatically with the character knob beyond the 12 o'clock position.
In rehearsals, I use it as a preamp, in any room that has an amp that I don't like its tone. I just connect it to the power amp input - and suddenly I don't hate the tone! If the room has a good amp (such Mesa Boogie/Ampeg all tube classics), I use the box as an extra drive, blended with the dry signal.
If I want a more "vintagey" sound for things like old school funk etc. the character knob just above the 12 o'clock position and a healthy amount of drive gets me there very quickly.
It's hard to believe how versatile this box is.
I never leave home without it.