Good Points: I use it in my home recording studio because it can be mic'd or run stright into a mixer/PC setup. The sound is great for a small amp and definitely Marshall, but with more gain available if required.
Has basic, but good sounding built in effects although only one can be used at a time. I love the sound of this amp on it's own.
Bad Points: This amp does not seem to work well with effects pedals. I use a Boss ME20 and the sound is aweful and dirty for the most part even though I only run the effects through the clean channel.
However, it is possible that the blame lies with the ME20 effects pedal. Although the amp has great built in gain, it will never give you a good thrash metal/death metal type sound if that's what you're looking for. It's good for everything else though.
General comments: I like this amp very much for it's versatility as a practice amp and for use in a small home studio atmosphere. It's got built-in effects which sound much better than pedal effects I've run through it, a button to turn the amp into "tube" simulator mode giving the amp a much brighter tone, direct output to mixers, and inputs for headphones, as well as another button to switch the amp between clean and distorted channels.
However, I wish that the folks at Marshall had put in a foot switch option for changing between the clean and gain channels.