Update.
Used it at rehearsal last night with my gigging amp. Suffice to say, I'll be happy using this as a standalone effects unit/DI for certain applications that doesn't warrant the stereo dual signal path 'big board'.
The compressor is excellent IMO. One of the best single knob compressors I've had the pleasure to use, and definitely better than any of the models I was using in my MS60b on my 'function band' nano board. Punchy, relatively uncoloured and no perceivable loss of low end. In fact, I may drop Valeton a line and find out if this compressor is the same as they use in one of their stompboxes.
I was hoping to use the bass amp section as a drive effect. Whilst it's possible to get a fairly pleasing drive out of it, and eq it to sound not dissimiliar to the bypassed tone, it's not quite what I'm after. It behaves a little too much like a pushed tube amp, in that it gets rather flabby and compressed, and loses the punch that my bypassed tone has (turning the compressor off made no difference). So for me, it's not a good enough drive to have on for an entire song, but for the odd passage, it'll be just fine.
However, back off the gain and the punch returns, and it is a pretty nice tone. I tried this direct into the rehearsal room PA and I was quite pleased with the tone. As I tend to use my bass amp's eq to adjust for the room, I was actually able to get a tone out of the PA that was similar to my amp, so I'd be more than happy to use this as a DI if my amp goes down, or indeed just to feed the monitors. In fact, one of my guitarists (who is also tone hound) reflected that it sounded like 'me'. Can't ask for better than that!
I do think that Valeton missed a trick here though. It would be great if there was a switch for the thru output so you have the affected tone minus the amp section coming out of the thru output and everything out of the DI. This would be similar to how people sometimes use a sansamp BDDI at the end of the their signal chain.
As mentioned before the chorus is rather thick and full. Quite a contrast to my Duff McKagan loaded TC Corona Mini, but still usable. I'll just need to back off the bass' volume to compensate for the volume boost.
Octaver sounded great, and I need to spend a little more time with the Dirty Q section. Engaging the fuzz seemed to kill the volume, and finding a sweet spot on the filter itself is a little challenging. TBH, the bass balls-esque tone isn't my filter of choice, but passable for the odd occasion.
In summary. I'd happily gig with this as a micro effects unit - certainly easier to use than the MS60b as a standalone unit (only did that once - it was a PITA), and the compressor does wonderful things to my tone. If I were to use this as a DI though, I think I'd use a separate drive pedal.