Before I say anything, this is a really great practice amp. If you're looking to buy an amp for your bedroom practice, get this one right now.
Sounds really great, personally I play on very low volume (I live in an apartment) and I have no problems with it audibly. It can get really loud if you want it to.
Many settings including EQ, Reverb and other effects. These effects aren't anything special, but they get the job done. The chorus actually sounds really good.
Now, I don't know if I got a faulty one, but every time I use the gain knob, the volume decreases drastically. It fixes itself when turning the amp off and on again, but it's really annoying. Also the FX knob doesn't remember where it was set when turning off the amp.
Even with these issues, I say this is one of the best cheap amps you could buy. Highly recommend.