I've had my LMII for a week or two now, ( I kept procrastinating, 'cause I don't NEED another amp, but you know...GAS). A few thoughts:
The Limited Edition might be a better choice if you don't like the vivid colors of the standard models-Although some say they don't like Marco's face on the chassis!
LMII is way loud at 4 ohms- If it doesn't have enough "balls" for a player, please warn me when your project is performing so I can wear some serious ear protection.
The amp, IMO-
* is easy and intrinsic to eq, when you learn how the filters interact with the rest of your signal chain.
*It does produce a tube-like resonance and quality (I own two fine tube heads, so have a good basis of comparison)
*It's light, that's for sure.
*Very well-built product.
and like every other piece of gear, not necessarily for every player.
The SMPS are certainly revolutionary, I don't know if MB was the originator, but I will say this for them:
A LOT of the uproar and raves about the LMII could have been avoided if MB simply would have PRICED the head at about, oh, say $1500 US.
They would have sold SOME units, but it would have been placed in the stratosphere of other high-end heads that are revered, but out of reach or un-practical for many players.
At < $600 though (which is quickly getting to be the price of a good meal!

) so many players made it their choice and started raving ecstatically, the story begins...
Nothing wrong with the marketing plan and GC distribution either. I think it's a very effective business model, like it or not. Glad they finally decided to sell them on-line though. I personally try to avoid going into GC if I can!
Finally- like any bass amplifier, MarkBass products are engineered with performance parameters and their own individual voice. Every bass head has it's own tone, timbre, and sonic reproduction, recreated by how the player uses it and what he or she can do with it.
A LMII is a different animal than a Genz-Benz, or a Mesa, or a Trace, or an Ampeg, etc.
I happen to own all of the above, and happily play them all when the occassion arises- I love making the choice-They all sound great and perform great, and not one is "slayed" or "buried" or "killed" by the other.
Nothings for sale.
...And I still don't find it too much of an ordeal to carry a 30-lb SS or hybrid head around, or a 45-lb tube head, or a 90-lb (!!) tube combo to the gig.
What's the big deal? I have a car; and the wheel has been invented.
Now THAT was revolutionary!