My setup is simplistic: I plug my guitar into the Korg effects/preamp unit, and I plug the output of the unit into the power-amp in jack of a Fender Deluxe 85 amp (one 12-inch speaker), thus bypassing the Fender's pre-amp section.
The unit is fairly quiet. You need the noise reduction on for compression, but that's pretty normal.
The effects are generally quite good for a unit in this price range. I've read complaints about the wah, but I think the wah is not bad at all. I have a real 1960's vintage Cry Baby wah peddle that the Korg does not immitate perfectly, but the Korg wah is competent. Also the vowel sound is quite cool and effective. Other effects such as chorus and reverb are not outstanding but very competent.
I am unhappy with two aspects of the effects. One is that the natural tone of my guitars is lost, even if I try to make a "vanilla" patch that doesn't do distortion, chorus, etc. I can tweak things a little and get some of it back, but I'd like the whole tone back. I can use BYPASS for this, but then I lose the basic effects I want like reverb. The second problem is, I think, a bigger one: the compression causes the attack on notes to make a "popping" sound. It's quite noticeable. It's an effect I might like in some cases, but you can't get rid of it without turning off compression. I have an ancient DigiTech RP-1 that I was hoping to replace with this unit, but the RP-1 does not have these problems. It is basically a better unit in spite of its age and quirks IMHO.
I don't normally try to get sounds of my favorite artists, but just playing around I could get somewhat of a 1960's Clapton sound with my Gibson ES-347. Later strat Clapton sounds, using my American Strat, were actually more difficult since the full tone of the Strat is lost a bit in the effects.
I haven't had the unit long so reliability is hard to judge. However, it is a solid metal case and appears to be quite rugged.
I play jazz, blues, hip pop, folk, contemporary country, a lot of stuff. I don't play any acid or death metal. I do use heavy dist/comp once in awhile for effect. The Korg AX1000G is OK for some of this. The jazz/blues suffers a little with the unit.