I keep this thing on the bookshelf in my room, and use it mainly just to mess around on. The modeling features do't sound anything like the real deal, as with most things in that category, but some sound good. The reverbs on it are fairly good, and it's nice to have the other effects there as well.
I purchased it because of the backing tracks. They're incredibly simple, however really useful for writing parts or rehearsing with something more than a metronome. It's a very useful practice amp, and does the job of keeping a beat behind the player.