Yes it is sensitive. I usually use the Hi-Q mode with Threshold at 14:00 and Attack at 8:00, but I adjust that setting before gig or rehearsal according to the particular bass signal power.
It also behave differently when you adjust your bass onboard preamp e.g. adding the bass - it changes the power of signal and the filter opens differently. The best is to double check the setting before the song to check if it provides the right quack.
Another nice setting is Up mode with both knobs at about 15:00. It gives nice thumpy loooong sweep.
Try to put a buzzy synth or fuzz before the BassIQ with this setting
