I just got it in the post and spent about an hour and a half with it today. Soundclips/videos to follow this weekend, but here are some first impressions:
I only had time to go through the first couple of presets, then just tweaked around with each effect mode. I didn't get to the bass specific presets or the bass input mode (it has guitar, bass, synth lead and synth bass input modes).
Bypass: it has 3 bypass modes, buffer, buffer with trails and mechanical/true bypass. I left it on buffer and it sounded fantastic.
Switching between 'bank' and 'play' modes is fairly important to using it well. Bank mode lets you select new effects hands free -- you scroll through banks of two effects. Play mode gives you bypass, tap tempo and flex/learn/what-have-you stomps. Every mode except octaver uses the flex stomp and it usually does something worth while. You can set an expression pedal to control any parameter.
Tuner: Tuner has no problem with bass whatsoever and is very clearly displayed.
Diatonic and Quadrovox are two- and four-voice delayed pitch shifts. The Pitchfactor tracks beautifully and I have had zero glitches when playing single note lines. It gets confused on chords, but that's expected. Unfortunately I only had a four-string out so I don't know for sure if it tracks to low B, but I'd bet that it would.
Octaver is wonderful. It gives you control over two filters, plus fuzz and an envelope modulation. I spent a while on this one and got some fantastic sounds out of it. The built in fuzz sounds fine, if generic, but that isn't really the point. This mode gets very funky and synth-like. I've played OC-2s and -3s and you can get most of those sounds if you want them, but the PF can get into BMS territory as well.
Synthonizer is very cool. It gives you two synthesized voices which can go +/- 1 oct. Also gives attack controls for each as well as 'verb and wave shape for one voice (sine, sawtooth or triangle), filter for the other (which I think is square).
Pitchflex is the Whammy killer. I say this with respect to Whammy IVs as I've never tried the Bass Whammy. It tracks better, it gives you a filter to take out the digital noise, it lets you have two pitches for heel down, two for toe down. The flex switch is momentary (think toe down) and you can set time it takes to go up and time it takes to go back separately.
I have less of a grasp on the rest, but most of them are somewhat similar to PS-3 functions, which it also kills as each has more range and is clearer. That said, H910/H949 mode simulates older Eventide models of pitch delays which have added amounts of glitch. I have very little idea of what Harmodulator does in practice, and while I understand Harpreggiator, I don't get how to use it well beyond presets.
This thing is a beast -- if you're not careful, it will play your instrument for you.
Hope that helps with some curiosity. Again, I'll try to get clips or videos up this weekend, and hopefully A/Bing the PF with my Whammy IV and PS-3. If there's anything else you want to hear it compared to you can send me the pedal
-Alex