Good Points: The sustain of notes can be a real help to creating sound layers/textures.
Bad Points: I haven't noticed the volume drop yet,but its a shame the feedback oscillator doesn't track pitch.
Good Points: Feedbacker is neat, and unavailable on any other device.
Bad Points: Can't activate the feedbacker without the distortion already on. Distortion is not very exciting, but really not as bad as everyone says.
Good Points: Feedbcaker. Hold it as long as you can!
Bad Points: Distortion
Good Points: Artificial feedback can add a certain thickness to you signal. And the feedback oscillates in an interesting way when used in front of other modulation type effects.
Bad Points: Thin sounding distortion. Difficult to shut off in a hurry. And it's becoming a collector's item due to the lawsuit, so they're fetching artificially high prices.