I use this amp with a couple Tele's and a Strat, all single coils, and mostly stock. I spend about 90% of the time in the AC30TB preset. I guess it makes sense that Vox would model a Vox the best, and they certainly have. It has the tonal character and chime that you'd expect from an AC30, but it's more versatile due to the addition of midrange and master volume controls. I start in the preset mode, then crank the gain and treble just a little bit. This gives me a great Brad Paisley-like tone when using a Tele. This may not be a Dr. Z, but with a little tweaking, I can get a pretty good approximation of most of Brad's sounds. Try the afore-mentioned settings and run thru "The Nervous Breakdown" to see how close it really is. The effects sound pretty good, but the only ones I use consistently are the delay and reverb. I run a Keeley-modified Ibanez TS-9, a Boss BD-2 and a DD-2 ahead of this amp, so using the 2 channels and bypass mode, I'm able to get a variety of drive and delay settings with minimal gadgets. Very cool.
As some other reviewers have noted, this amp does lack in bass response. This was especially noticable for me after playing thru a Fender Hot Rod Deluxe, which is well-known for its bassy tone. This hasn't been a real problem for me, as a huge bass sound isn't really necessary for the sounds I like, but I do occasionally run this amp in tandem with the HRD to fill out the bottom end.
I bought the display model at a local guitar store, and haven't had a ny problems with it. I read some statistic that said if electronics are going to die (while still under warranty, anyway) it will be in the really early stages. This amp had lived a few months on the salesfloor of the Pickin' Palace, so it was broken-in pretty well for me. Haven't had any problems at all since I bought it 4 months ago.
I've been playing almost 10 years, and as I said I also own a Hot Rod Deluxe I've had for about 6 years. I own a few Tele's and Strats, as well as an Epiphone "Lucille" and some acoustics. This amp has allowed me to get the tones I wanted at a dirt-cheap price, and I'm very happy with it. I'd definitely buy another if it were stolen. Actually I think I'd buy the 100 watter with 2 12's. Maybe it has a bigger bottom than it's little older brother. This one will do til I can afford a Dr. Z or BadCat.