I bought one of these for my piezo amplified acoustics, driving them through my Fender CVR stack. They needed a FET in-between to make a full, balanced output, and the little brown box does that as well as being a great EQ/TONE SHAPER/EFFECTS LOOP/GAIN/INVERT controller.
I thought it worked great. Then I started to experiment with my Strat Plus, my Byrdland, and my Gretsch 6120...and they sounded great.
I'm not much of a pedal/effects guy, more just reverb and tremelo, but it makes you wonder about tone control. I set my Treble at "2", and my Bass just a hair under "2", which by various other resources is giving me as flat an output as possible on the CVR. I set the guitar tone pots to full wide open high treble. The LR Baggs does the rest.
I guess other stomp boxes do similar things, but adding the FET input impedance and finely controlling output impedance makes a great full sound on my electrics....