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Note that the Marshall tone stack is very similar to the Fender one and was chosen for it's low component count and cheapness - not for it's effectiveness. Mid is cut-only, bass and treble are boost-only and they interact quite a bit. Ampeg came out with true hifi style boost-cut tone controls that don't interact like the ones on Fenders and Marshalls.
Perhaps, but it's a great sounding amp! Every time I start thinking about selling mine, I play through it (through my AccuGroove cabients) and it sounds so nice I don't want it to leave.

