Man, I would have loved a Bassman TM instead of the Super Reverb TM I picked up like a month ago! D'oh! My honeymoon is over, but still using the amp on a weekly basis. I won't be getting the Bassman, but I think this fits better with the other TMs with tube counterparts that are crushingly loud in their sweet spot - Super and Twin. Also cool that they added a loop when thats what customers have been asking for. Rather than updating the TM's they've issued, it seems like they release a new one every year and each iteration gets a little bit better; real Jensens in the SRTM, FX Loop in the BTM. As metro said, it AIN'T better than the real thing, but I think Fender is always narrowing the gap, and the convenience factor (light weight, power scaling) might outweigh the tonal deficiencies and typical tube amp "issues" for a bunch of players.
Its already been said in this thread, these TMs seem to get real picky when you overload the input with a dirt pedal. However, I've found that my SRTM likes buffered OD pedals, not so much the boutique stuff; been running a BD-2 to great effect. Like any amp, you gotta setup a rig that works with it and doesn't fight it. Mine sounds great in the practice room, and my other guitarist is rocking a TRTM, so they fit well together.
Despite using it for rehearsals the last two months, for this weekend's gig, I pulled out the 64 blonde Band Master and a 2x12 - take that grain of salt...