I had one, was a nice amp! Probably 85-90% as good sounding as a 'real' SLO... yes, I compared one in person. Wouldn't mind getting one again sometime, I really dug it.
I've got a 50 W Avenger that is basically a Hot Rod 50 with no clean channel or loop. Sounds great to me! Very touch responsive and sounds great pushing a Celestion Heritage greenback 2x12.
Settings I use a pretty close to EVH's settings taken from a pic in an old Guitar World magazine that had a photo of Ed's blue SLO with black marker spots on the knobs: Gain 7 Bass 7-8 ,Mids 3-4 , Treble 4-5 ,Pres 5 I keep the Depth knob on 0