GK has kept up the product info for the MB at their website, though it's discontinued. As I understand it, the "Series III" was a design update that essentially modernized the power supply and power amp circuits but did not go all the way to Class-D. For instance the picture at their website shows a toroidal power transformer, and the manual mentions Class-H design. GK had generally switched to toroids and Class-H for most of their amps at that point, so it was a natural evolution, and I trust they got it right.
In contrast my old MB150E combo, which dates back to around 2000, has neither of those upgrades.
I'd say it's straightforward electronically, though @agedhorse frequently warns us about continued availability of some components. I can even grasp how it works, which I can't say about the Class-H or Class-D designs. The main issue with mine is that the pots have gotten scratchy, and it's twice as heavy as my new rig, though probably not as loud. In terms of servicing it, the main issue may simply be that the mechanical design is complex, meaning it's a chore to get it apart and back together. Mine now stays at home as my practice amp for electric bass.
www.gallien-krueger.com