I have an AVT50 Combo and here's my honest assessment...
This amp is often maligned by people who believe you have to have several tubes in an amp in order for it to generate good tone. You could easily make a case for that line of thinking when you compare a solid state amp to a $2,000 Mesa Boogie, but not in an amplifier that costs under $500.
The "clean" channel...
The AVT50's clean channel has an excellent warm tone, despite having only one actual tube in the entire amp. Of course, the type of guitar you have plugged into it makes a difference, as you would expect. My Samick Ultramatic sounds thicker and jazzier than my G&L F100, which has a brighter, punchier tone with it's new Seymour Duncan Trembucker bridge pickup. I'm sure most other amps would vary the same way between these two different guitars.
The AVT50's clean channel does lose a bit of bightness when you crank it way, way up. But this only happens when your volume and gain are both more than 3/4 of the way up. At that point you're at deafening levels and approaching the threshhold of pain, so the ear-splitting treble would just make you cringe even more. I've seen guys trash this amp just for that reason alone... saying that it "turns to mud" when it's cranked up. But they're usually teenage metalheads that are exagerating the point.
Rest assured, the clean channel is quite excellent and has a nice warm tone!
As for the overdrive channel...
The overdrive channel is SPECTACULAR, to say the least!
It's just what you'd expect from a Marshall amplifier, and then some. I don't know how Marshall made that one tube sound so damned good, but they did it! It sounds just as good at low volume as it does cranked up. When playing out, the overdrive channel just begs to be cranked up, and you'll be happy to oblige.
You'll also be much happier with having a footswitch to change channels while playing live. I use mine constantly.
The reverb on the AVT50 is also stellar. I've been able to duplicate the tone of Clapton, Eddie Van Halen, Stevie Ray Vaughan, and many other guitar greats without the use of any pedals... just the adjustments on the amp itself.
The overdrive channel is simply phenomenal!
The AVT50 has some really neat features.
I use the Headphone Jack all the time. It disconnects the main speaker when you plug the headphones in, so you can practice in silence. This is a VERY useful feature.
The CD Input Jack allows you to connect a CD player into the amp to practice along with some of your favorite music. I haven't used it yet, but it can be handy at times.
The Emulated DI Out Jack allows you to record the amp directly into your recording source, without having to mic the amp. According to the manual, Marshall claims that it "accurately emulates the sonic signature of a guitar loudspeaker."
If that's true, that's a really cool option to have at your disposal.
There are also FX Send and FX Return Jacks, an External Speaker Jack, and the Footswitch Jack.
I'm sure the one thing you'd like to know is... do I like this amp?
Hell, yeah!

I've played out with it twice a week for the past couple of months.
I really like it alot. My AVT50 Combo has no problem keeping up with bigger, more powerful amps. Did I mention it will crack the windows in your house if you crank it up?

Anyway, I think you'd be happy with the AVT50 Combo.
Sorry that this post got so lengthy, but I did say I would give you an honest assessment, so there it is.
Whatever you do, DO NOT pay the $475 "sale price" that it goes for at Guitar Satan and everywhere else. There's room to work with on
the AVT50 Combo. Because of all the gear I've purchased in the past at my local Guitar Center, I got mine for $350, which is just slightly over "cost". That's because I've spent about $15,000 there in the past 3 years. You should be able to talk them down to at least $425. Don't go to a regular salesperson, unless you've already got a relationship established with someone. I've worked directly with one of the managers for the past few years and it's saved me a bundle. My poor little credit card is worn out!