I just started looking into the Legacy series. I've had an MB500 for eight years. It has been absolutely dependable, but now suffers from intermittent effects loop connection issues. Furthermore, I want to get an amp that is 2 ohm stable.
So ... questions:
1 Can I safely daisy chain three 8 ohm cabinets, and in which position would I put the impedance switch?
2 How different is the function of the trim control vs the older gain control?
3 I've read some reports of loud hissing noise in the Legacy amps. Is this a fluke or a common problem?
Just did my first gig with mine last night. No hissing whatsoever. Cab was a 4ohm Avatar SB126, and with the 6" driver turned up all the way, I would imagine if there was any hissing I'd hear it.
For three 8 ohm cabs you would switch the amp to 2.7ohms(aka 2.67ohms

.
The intended use of the Trim is to dime it, and then reduce as needed if you're clipping the input (it's in place of the -10db pad on other amps). I had a passive P going through an Xotic RC, boosted slightly hotter than the passive alone signal would have been--I did have to back it down a hair but barely.
I've never used an MB500 but I have an MB200, and the Legacy (at least the 500) is a totally different sounding amp. It's a midrange monster. I set it pretty much as Groovaholic suggests above and man, talk about clear, punchy mids that jump right out in the mix. Very articulate and responsive as a result, but not hi-fi--to me it says "rock". I haven't used an 800RB or 400RB in many moons, but to me it has that vibe (as Robert Gallien says, the 500 is designed with the 800RB in mind). I was totally digging the sound--driving, gutsy - kinda wished I'd had my rig mic'd instead my usual DI!
EDIT: I had to go check just now in the quiet environment at home. Compared to the MB200, there is a
very slight hiss audible with the Legacy 500 when it's on. But you have to be right in front of the speaker to hear it, like your head almost in the grill. If I just barely roll back the level of the 6" driver in this cab it goes away. And it certainly doesn't get louder as you turn up the amp (so that's good!). Even with the vol just barely on enough to get a sound outta the amp, the signal of the bass is so much louder than the hiss it completely masks it. Not a problem IMO. I'd still totally mic this rig given the opportunity.