I will second that 'Wow, as mine arrived yesterday via Ebay, and the first hour experimenting just flew by. Absolutely blows away the best graphic equalizer anywhere; the combinations are truly endless. I hit both lo pass filters, and my kidneys were vibrating from the window-rattling lows. Hit the high pass filters, and she sounds like a 6-string guitar (well, almost). Amazing stuff.
If you are a plug & play bassist where a reasonable sound is OK with you, this may not be a good investment. If you have a certain specific sound (or sounds) that you like, and don't mind taking the time to find it and perfect it, this is an invaluable tool. A little patience and a couple of pints will certainly make for a fun Sunday afternoon.
I agree, Rob; although it won't be until June, I can't wait to gig with this....I predict a loooong sound check, with much tweaking