I bought one of these not expecting much because of the low price but it was a deal I couldn't pass up. I already have a Lexicon reverb (MPX 550) that is amazing.
I figured the Alesis wouldn't be as good but still might be useful in some way.
When I plugged it in I was blown away! Gorgeous halls, rooms, and plates! Plus really nice chorus and flanges! I'm talking not just passable effects... but pure ear candy!! It sounded awesome on my guitar. I don't know wether to have this in my live guitar rig... or keep it in my recording set up.
My Lexicon MPX 550 does sound a little better.. but the Alesis has it's own character and comes extremely close in sound quality.
Also... the ease of use and editing is excellent. I figured out editing almost completely without the manual because operation of the unit is so self-explanatory.
Another thing I like is the depth of parameters available on the reverbs. Very tweakable and it's easy to get it sounding exactly the way I want it.
This unit could cost $100 or $200 more and I still think it would be a great buy!
I'm amazed at how they can make such a quality reverb at such an affordable price.