One of my favourite pedals, and I've tried many! Most people that slate it were probably looking for a warm overdrive - this is not the droid you are looking for. I use mine at high gain though, blend at 1 o'clock, gain at 3 o'clock, slight bass boost and treble cut - going into a relatively dark sounding rig (Orange TB500 + Ampeg SVT210AV - tweeterless, which tames the fizz)). I first saw the light after seeing Acid King live where the bassist was playing one with a Jazz into a cranked Ampeg SVT and 810 in a small/medium venue, absolutely crushing tone.
It needs a growly scooped sounding bass to shine though - I don't like it with a P-Bass, but with a Stingray or the PJ pickups from my BB, it snarls like a dog.