I received mine a couple of days ago and I'm very happy with it. It charges via USBc - a neat USB cable is supplied. The unit itself is small and light and there's a swivel between the jack and the body of the unit. This swivels through 180deg but only in one plane. This is no problem, though if you have a socket on the edge of the bass it's just a little awkward to get to the controls to select the options while plugged in. It's not really an issue for a bass player as I doubt you'll be needing to switch through the options very often.
The master volume control is large and easy to use and the headphone socket (1/8" mini jack) is at the end of the unit away from the jack plug. It has plenty of power to drive my Sennheiser over-ear phones.
There are four small plus/minus rocker switches along one side of the unit. These are labelled AMP, EQ, EFFECTS and MODIFY.
The AMP switch lets you select Amp emulation and there's 12 options altogether; for example "60's British" supposedy a Vox AC30 and "57 Twin" based on the Fender amp. Fun to play around with but I suspect most of us will set it to "Studio Preamp" which gives "Direct-to-mixing-desk studio-preamp purity with clean, uncolored tonal response. Ideal for bass guitars and acoustic instruments."
The second switch, EQ, allows you to select one of 5 presets - Darker, Dark, Flat, Bright or Brighter. Personally I l found the Dark or Darker setting works for finger-style and pick.
The EFFECTS switch allows you to select one of 13 effects. Examples include Hall Reverb, Spring Reverb, Harmonic Tremolo and Reverb, Chorus + Delay + Reverb. This works in conjunction with the MODIFY switch which allows you to select the amount of effect applied from BYPASS through --,-, Middle, + and ++
So note that there isn't a "no effect" setting within the EFFECTS options, rather you select BYPASS on the MODIFY switch to turn off any effect selected. I found Hall Reverb at the -- or - setting gives realism to the bass - making it sound as if you are playing a real amp in a room.
All the settings are indicated by coloured LEDs, so for example if the AMP led is white you have 65 Twin selected, if the EQ led is blue you have the Darker EQ setting selected.
The full manual is available at fender.com from the Mustang Micro page but you get a little credit card aide-memoire to these settings.
On the edge opposite the emulation and EQ settings is the on/off/pair switch. Slide and hold the switch towards Pair to initiate Bluetooth pairing. The Bluetooth connection works as any other Bluetooth speaker or headphone would and allows you to stream backing tracks while you play. It works very well. Note that Bluetooth is receive-only, you can't send a Bluetooth signal from the Mustang Micro to Bluetooth headphones. Your headphones must be hard-wired into the device. There are discussions elsewhere which talk about the delays in Bluetooth and the reasons why this is so.
You can record via the USB connection on the Mustang Micro but I haven't tried it.
So it's a very useful little tool for practicing and rehearsing when you are away from home, don't want to wake the baby or annoy the neighbours. I find it easier than stretching headphones over to the my amp.