The pedal is great! I have used it for recordings and live straight through the PA system via DI.
PROS:
-The EQ is comparable to a fender amp and I found many different sounds changing settings.
-The "cranked amp" sound (gain at 10) is really nice and can interact with the volume control in a great way!
-I like that it has two outputs, one with a speaker emulation (DI out) and one without. That enables you to use the pedal as a fender preamp (with switchable reverb too!) in front of an amp or an active power amp - speaker, as well as going straight into front of house.
-Great clean tones and reverb! Takes pedals well!
POSSIBLE CONS:
-If you change between green (cleaner) and red (driven) channel, there is a half a second delay and cut to the sound. Both channels can have clean and driven sounds. I tend to leave it on the red channel with gain low as a clean pedal platform, so the problem doesn't affect me. Red channel sounds a bit fuller with more output too.
-I have a little concern on the longevity of the jacks, because they are plastic and not metal, although in person they seem as sturdy as any other jack. Let's hope they last.
-It doesn't seem to have a lot of output, even after the software update. It is enough. As far as I've used it, it is not really a problem, but it is less than the Boss IR-2 which I also had.
TC 65 VS BOSS IR-2:
I have also played live with a Boss IR-2 pedal as a clean pedal platform and while it is great as well, I much prefer the clean sound and reverb of the TC. The tone is clearer and brighter, more fendery. It also takes pedals great both modulation and drive (even with the bright switch on). If you want a great blackface fender sound and reverb this is better and cheaper. If you need versatility, many sounds and switchable clean and drive from the pedal, go with the IR-2.
Great pedal, especially for the price, would recommend!