Btw it’s been mentioned but the older lb30 is much more aggressive than the lb302.n. Each iteration is a little different usually in a fun and interesting way.
I own an LB30 Mk1, LB30 Mk2, and CTM 30 Little Stubby. I would say the Mk1 and Stubby sound most similar. The Mk1 is more vintage sounding and Stubby is a bit more modern and also leaner down low. Both do clean and distortion well. Mk1 is slightly more versatile due to the tone network switches, but the Stubby is easier to dial in. I think both LB30s have slightly more clean headroom than Stubby.
The Mk2 is voiced significantly different. More mid-scooped and huge lows. It also has more clean headroom in the preamp than the Mk1. You can easily push the output section into drive, but IMHO this version seems to excel more at clean than OD.
I don't hear any difference when I toggle the Bass tone switch...I believe it sets to the LPF cutoff, and both are so low you can't hear the change. The Mid tone switch changes the shape of the mid scoop. In the more mid-forward position the Mid rotary makes a very subtle changes, providing you have the Bass and Treble low enough. In the more mid-scooped position, turning the Mid rotary seems to have no effect, unless the Bass and Treble are completely CCW.
Don't get me wrong, the Mk2 is a great sounding amp, but I find the way the tone network responds to inputs a bit frustrating. Why put controls on the amp that don't actually work, or barely work.