IMO, this is pretty cool. No, not the studio quality or live unit that competes with the axe fx, but it's pretty brilliant as far as convenience. Sitting on the couch, semi-watching TV with an iPad next to me is pretty much the norm in my house. I even talked about wiring an XLR and MFC jack to the wall next to the couch to plug in my Atomic wedge and MFC just so I could have access to some sounds.
I have what most people would consider a strange relationship with my wife. We spend literally every moment together (work, home, sleep, shows...) and have for 10 years. Consequently, neither of us likes to go to a different room to practice... This product is basically perfect for me at home. Streaming audio to the amp is pretty much amazing for practice. Currently, I'm using a little 1-channel 20w Jet City, but it'd be nice to have something with that can change from clean to dirty and has a headphone jack for when the wife is actually watching the show on TV.