My favorite part of the Magellan, and the part I spent the most time with was the Contour function. For lack of a better term, it's very "musical".
I'm a very "close my eyes and turn the knobs until it sounds good kind of guy". I've got a little knowledge of the, "I need 2 more db in the 'xxx' range," but not alot. The Magellan worked very well for me. It was very easy to dial in adjustments. That's a huge plus for me.
Little Background: many of the gigs I do have a backline. The club's policy is usually, "This is what you're using." They don't want to worry about switching direct outs or re-micing. They want you up, on, and out. Sometimes, there are certain basses I won't bring because they don't play nice with some amps (for lack of a better term). The Magellan took everything I could throw at it and was simply wonderful.
I know I'm gushing, but it was really impressive.
I've got a ShuttleMax 6.0 which I adore, but the Magellan might beat it out. Granted, I don't use the Signal Shape options very often, so take that with a grain of salt.
If you're a Streamliner user, I'm not sure how it compares. I thought the Drive channel was very nice. When I used it, I usually just wanted a little fuzziness and warmth. It's not replacing my Ampeg in that regard, but unless I specifically need that running through multiple tubes, serious overdrive sound, the Magellan will do just fine.