Just found this thread while searching for something else. I still have mine that I bought new in the 80's. IMHO, it's an amazing unit, especially considering its age. The "black face" setting is one of the sweetest clean tones I've ever heard. (It may not be called that. I haven't used it in awhile.) The "acoustic" setting is equally clean and interesting. Distortion is meh, as are all distortion settings in modelers. Chorus is lush, flanger/phaser totally usable. One of the functions that I thought was indispensable, (yet totally missing in my 21st century Peavey Dual Deltafex), is the ability to program the footswitch, not only to increment the presets, but also to set their range. So, if you wanted to just compare two settings instantly, you could set the range to say, 60-61. Then the pedal will go back and forth between the two. Or, if you wanted to just use your five favorite presets, load them from 55-60, and just rotate between them. Drives me nuts that the Peavey won't do that.
Anyway, sweet old unit. Enjoy. The manual is still available online if you need it.
Artie
P.S. I didn't think the reverb was too bad. But then again, I haven't A/B'ed it with something more modern.