I mostly use this in a studio setting with a Mexican Precision bass, paired with a Boss LMB-3 limiter/enhancer. MY bass typically goes right into the board using a Whirlwind Direct Box.
Not very noisy, unlss you boost some of the higher frequencies. I would say this pedal is on about 50% of the time, either when I need to add some more natural, subtle fatness (without using the board, which sometimes sounds a bit artificial to me) or have to make some kind of tonal change in between parts of a song. It is a pedal I think would be very useful live, specifically for this purpose. Essentially, an EQ sounds about as good as your ability to tweak it. It gives you 18 decibels of boost/cut per frequency, and a level control, but I find it does a much better job when boosting/cutting is kept within 3 or 4 decibels.
Reliability/Durability:
Feels very solid and reliable, but I have a few qualms. The plastic sliders seem like they might break easily if used live regularly. I think the sliders on Boss EQ pedals would probably prove more durable. Also, the sliders are very open, and always seem caked with dirt and dust inside the track. Pedals I have used live are all grimey and cruddy, and no doubt all that crap would work its way into the sliders on the DOD pretty easily.
Ease of Use:
Well, it's a pedal...so those of you with some level of education will understand the on/off concept. Basically, it functions no differently than any other graphic EQ.
Customer Support:
Overall Rating:
I like Ride, My Bloody Valentine, Charlatans, Blur, The Who, The Animals, Wilco, etc etc etc. I've been playing guitar about 14 years, and bass steadily for about 6 or 7.
Basically, it's a great tool, as any EQ is. If I played bass live regularly again, I wouldn't be averse to including it in my live setup if I needed to make tonal changes on the fly.