I bought mine about a year ago and for the price I think it's a great unit. Even if it didn't do something very well I thought it at least did a decent job at everything I use it for. I looked at some of the high end units and wouldn't confuse it with any of them, but I didn't need one of those units - I simply thought this was a great buy for the price.
I also use it as a general purpose effects box for recording - vocals, acoustic, occasionally keyboards, and I even use the pitch shifter to get an "OK" bass sound. It still sounds too processed to use long term as a bass and so I'm plan to buy a bass later this year.
Since it's plastic I don't know how well it would hold up playing live. I only use mine for recording at home.