I think I'm gonna drop the hammer and get it. I asked my sales engineer at sweetwater who happens to be a bass player if he's seen any demo's and this was his emailed response:
I had a chance to play through one when Fender was here a couple of months ago, and I was very impressed with it. it's like a SansAmp Bass Driver, but with compression and the same 3-band EQ. As much as I like the SansAmp pedals, I felt like this one gives you more control over the overdrive function, which is pretty basic (if good-sounding) on the SansAmp…it's just a single knob there, where the Fender pedal provides an additional tone knob for the overdrive itself, plus a level knob for additional volume at whatever level of drive you've selected with the Drive knob itself. The compressor is also pretty impressive, and it offers a blend knob, so when you put that up about halfway, you've got a nice parallel compression going, where your compressed signal is blended with your uncompressed signal…that provides all of the even response of compressed bass, and keeps your sound as a natural foundation, but also blends your dynamics back into the signal as well, so it doesn't sound squashed, and it gives you response like you're used to if you don't use compression when you're practicing, etc.
Because the EQ, overdrive and compression are all set up with their own on/off switches, you can use as much or as little of these as you like in your sound…it's a nice bit of extra flexibility that helps it stand a bit above the SansAmp models, as those have a single on/off switch for all functions, and there is no way to enable the EQ without the drive or vice-versa, etc.