Alright, the bulk of the review nobody is going to read...
My latest-and-greatest guitar is a cheap Ibanez RGT-42FM with an EMG 81 in the bridge (tell someone who cares!), and an 89 in the neck. I always keep a fresh battery in it.
Setup is like this: Guitar -> MT2 metalzone -> GSP5 -> Peavey 231FX -> Creative X-FI Platinum. I use a Klipsch 4.1 surround system with a 2x12 fosgate subwoofer setup. I record with Adobe Audition 2.0, Steinberg Wavelab 5, and many many other worthless programs.
Basically, I set my MT-2 metalzone up like this: Level maxed, Trebel @ 3:00, Bass @ 3:00, Distortion at 12:00. I almost always use patch #78 on the GSP5 (good solo reverb). I set the GSP5 @: EC 10, L 8, bA 2, 1F .16, 1L 4, 2F 2.9, 2L 6, rL 0 or 9 (solo or rhythm reverb), rD.50, rE 3, and uo 3.
With it set up like this, I can get a damn good rhythm sound as well as a hot-ass solo sound (change reverb). Like this, sitting in front of a computer monitor, it's LOUD. Move away from the monitor, and it's fairly quiet, tipping the scales at an acceptable (to me) -25db. Sounds like a soft waterfall. It will also pickup local AM radio stations with the correct positioning and maximum gain on a MT-2 and the unit.
By itself, it's actually sort of quiet. When I'm recording, the preamp shows everything from -60db on a dry, raw clean channel to a -20db on a high-gain, effects-laiden channel with my buzzsaw-esque MT-2.
The sound is VERY digital, especially with low-volume sounds. You can actually hear the "digitizing" of the input sound @ around -30db. This is due to the ancient DAC. It should be noted that you CAN adjust certain aspects of the DSP via small potentiometers inside the box. If you're hearing a random "crackle or static," turn the BIAS pot until it stops.
The effects sound decent. A far cry from the warm, natural sounds of todays digital effects processors, but they're still good. The reverb is fantastic and is the ONLY reason I insist on using this unit. That, and the amp models (which don't sound at all like ANY amplifier I've ever played!!!) sound good.
This unit does not like to be beat-up. If you get pissed and whack the top of it, it'll usually make the "up" buttons sticky. Other than that, it's a solid unit and has NEVER failed me. NEVER. Failed.
I play lots of different music. Full-on death metal, black metal, Vai-like solos, and acoustic guitar-like classical. I've been playing for ~7 years now. I wouldn't cry if it got stolen or lost...these things are cheap.
I like that it's survived 5 years of me playing. It sounds decent, and I've grown to like it. On the same note, I totally HATE it's lack of tonal versatility. Everything sounds the same.... there's just more of that sound or less of it, nothing special.
I've played many high-dollar amps/racks, and this thing CAN NOT compare to even a line-6 pod XT. But, for a freebie, it's not bad at all. I'll give this one a 5 because it's so basic and old. Cryptic patching, digital sound, noisy, and fake-sounding.