For a reason too long to include, I have both version 1 and 2 of the BFR. Many, but not all features are the same.
The same features include:
Tuner – Accurate but slow
Chorus
XLR output for DI use
Octafilter fuzz, Range, Q, and Mix
Sansamp Low and High
Bite
Compressor Level and Compression
10dB PAD
Different features include:
Version 1
Headphone - for practice without an amp
Octafilter Octave - sub-octave effect
Sansamp
Mid - ± 12dB at 1 KHz
Drive - adjusts gain and level
Character - boosts high frequencies and gain
Boost - level and pre versus post Sansamp EQ
Compressor Tone - adds high mids for clarity
Version2
Effects Send and Return - for insertion of effect pedal into signal path
Octafilter Octave - higher octaves effect
Sansamp
Mid – - 12dB at 1 KHz, + 12 dB at 2 KHz
Level 1 - sets Channel 1 output level when Sansamp on
Level 2 - sets Channel 2 output level when Sansamp on
Drive 1 - sets Channel 1 gain when Sansamp on
Drive 2 - sets Channel 2 gain when Sansamp on
Compressor - no Tone control
I primarily use the Tuner, Sansamp, and Compressor effects. The Chorus effect is only useful when it is just guitar solo, bass, and drums to add fullness. The Octave and Fuzz highly interact, so finding a pleasing sound is difficult. The envelop filter is reminiscent of a Mu-Tron III, just not appropriate for the music I play now. The Channel selection does allow finer control of gain and EQ versus an overall boost function. Trial and error is required to find the best settings. The Compressor Tone does not add much. I would prefer a control for the Compressor attack. The buttons are close together, so it requires attention to where you place your foot.
Overall, a very useful unit for adding multiple effects rather than adding multiple pedals and a pedal board. I always use one. My preference is for the Version 1 to have a headphone output and simple boost.