Just got it today, but wow. So far just messing around with it, and it really does sound like my amp, but in headphones or monitors. It needs a bit of verb to give it that "amp in the room" sound as opposed to sounding really direct, but that's no biggie.
I left the controls on my amp just as they are when I play with a cab, and it didn't require much in the way of tweaking at all. I need to test it with the line out to WoS plugin.
I know the Torpedo Live has a ton more options, reactive load, etc. but with the ability to use cab IR's, and this being so plug and play, it's a lot of fun for $300.
Nice score. And the Torpedo is great if you're not going to be using a DAW. If you are, its best features are completely redundant. This thing makes way more sense.