So overall I am digging this.
Pros:
Sounds decent right out of the box, can get some really good to great sounds with some tweaking. Amps and cabs sound very good and you can add eq and tweak away. Cabs have built in high/low cuts. NAM captures are cool, not sure it is necessary. No issues with IR's, they work like they are supposed to. Effects are decent and useable. Software is very good.
Cons:
Effects are good but not great. Granted I am spoiled by Fractal and Boss when it comes to this

. The things that seem elusive that I would like on the unit are...
Comp - although the standard comps are decent, I want a standard Ross style comp with a blend. Just add a blend to any of the ones that are there. The S-Comp is not it.
Delay - again, the delays are decent but where is the simple analog or tape delay with just a touch of modulation? Perhaps a EH MM block? The delays with modulation either have way too much in the mix and are stereo which I don't really need for my use case. Maybe it's in there but I have yet to find it.
Modulation - this is the weakest part of the unit. Where is the subtle classic CE-2 chorus that everyone in the world wants? How about adding a mix knob to the existing choruses? Same with the flangers, not really doing it for me, I want subtle.
If they made the above improvements to the effects part of the unit this could be a standalone go to unit. As it is, it's very useable and tweakable and I plan to use it for rehearsals and home jamming stuff.
Drum machine and looper are a bonus. I am not much of a looper so I don't want to comment on that too much but it seems very straightforward and simple to use. The drum machine is a hoot and provides and instant jam/practice session at the touch of a button. Very cool indeed! Nicely done Valeton.