Outstanding little amp
I've had this Mustang III a couple of weeks now and I'm really impressed. I bought it primarily for home recording use, following some YouTube blind tests against other regular, non-modeling amps. For the price, it's hard to beat, and the sound quality is hard to beat, too.
There are some nice presets among the 100 that come with the Mustang. But one of the big benefits is getting access to free user-created presets or being able to create your own if you are so inclined.
For instance, three of my favorite presets were created by a guitarist who posted blind A/B listening tests on YouTube, asking viewers to comment on which, for instance, was the Eric Clapton Tremolux and which was the Mustang III, or which was the Deluxe Reverb and which was the Mustang III. He did this for a number of amps.
The blind tests faked almost everyone out, including me. Most people preferred the Mustang and assumed therefore that it was the tube amp. In those tests, the tube amp always sounded to me like it was trying to imitate the Mustang rather than the other way around. That's how good the sound was. In the end, all the tested presets from the videos were uploaded to the Fender Fuse site, where Mustang users can download them for free and further tweak them if they want.
Due to the availability of presets, coupled with the limit of 100 that can be on the amp at one time, it's wise to create a baseline backup of all the presets that come standard so they will always be available if the need arises to restore them. What happens is you'll come across or create a great preset and want to overwrite another unused preset in order to store it on the amp as one of the 100 selectable presets. So it's good to keep a backup of what you started with. Note that on your PC you can essentially have unlimited presets and download them to the amp as you desire.
Don't expect much product literature to come with the Mustang. What is supplied is very minimal, but you can find manuals and instructions online. For instance, I needed to restore my original factory presets at one point, so that I could back them all up and save them. It took a while to figure out how to do that, which simply involved turning on the amp while holding down a button. But that's a minor nit. This amp is simple to use and find your way around on once you learn a few things.
One nice feature is a headphone out jack. If you don't want to wake or disturb the household while you're jamming away or practicing, plug in the headphones and the speaker is bypassed. However, if you really want to hear some impressive sound, just unplug the headphones, move the amp volume up to 2 in a small room and be amazed at the sheer volume and quality of the sound. It's much fuller and richer than listening with headphones, which is not bad in itself. Then move the volume up to 3 in that same room and it will almost blow the walls down. That would be plenty of volume for playing as part of a band in a club, for instance, so this little amp packs plenty of power.
One of the nice features of the Mustang is that, with the Fuse software, you can edit your effects settings, adding things such as a stomp box, reverb or modulation with a mere mouse click. You can add any of them pre or post amp. It's good imitation of a real world setup. Then, of course, you can tweak those effects as you need.
The Mustang III comes with a two-button footswitch. The four-button model is much more versatile and useful, so if you're into using footswitches, plan on upgrading to the four-button model. The footswitch is useful for doing things like switching a stomp box off and on, selecting different favorite presets on the fly, or selecting the tuner.
All in all, this is one incredible amp for a fraction of the price of a typical quality amplifier. I can't say enough good things about it. Fender hit a home run with this amp, in my view.