Maybe it is ok as DI box or amp sound changer but cabinet simulation is not studio quality. It is possible to set it quite good but it will still give some fuzz
It is great to have ground lift and XLR. XLR very silent but it is quite common for di boxes
For a fraction of the price, this Behringer is a clone of the Tech21 SansAmp. I use it to turn my TDK Soundcube from a punchy but clean portable HiFi speaker system into three styles of dirty overdriven guitar amp. It does a fine job for this living room rock star but the genuine Tech21 SansAmp GT2 has the edge in definition and clarity in a side by side test. Go for the GT2 if you have professional demands. For the rest of us, this behringer is perfectly adequate..
A concern I had about this was that it seemed to quickly get quite hissy as I turned up the level/gain/treble. However using it in conjunction with my overdrive and/or distortion pedal soon demonstrated that, with everything adjusted to parity I don't actually need to turn up the gain/level into the hiss zone. Indeed, the pedals seem to enhance each other such that together they add up to more than the sum of their parts. Individually my Bad Monkey, 60's fuzz and GDI21 each sound OK but together something magical happens and my rig starts to sing! - It takes me some fiddling mind you. Incidentally the Sansamp GT2 also gets hissy - it's a feature of the circuit cloned.