Some of the reviews seem to be for a different mixer (perhaps the X1204USB?) This is the Behringer Xenyx 1204USB, which does not have the built-in effects. Personally, I already have pedals and other equipment for my effects, so I didn't need or want that on my mixer. In fact I prefer it. I am very happy with the uncluttered look and feel of this mixer. It really packs a lot of features into a small light board, and I love that it takes a regular power cord instead of a proprietary AC Adapter.
I would not use it as an audio interface because it only has stereo out--no multi-track recording capability. But it has been working great in live rehearsals so far, and that is why I got it. Solid piece of gear!