Price: Most mail order places have them for $120
Pros: Very inexpensive, all tube, easily modded
Cons: Noisy, needs mods to reduce hum
Review: I've had mine for about 7 months now, and I use it in a stereo mini-rig with a Vox Pathfinder 15R. The sound on this little amp is very subjective. It's got that ratty Class A, lo-wattage, small speaker OD sound. Great for classic/indy rock, but NO hi-gain applications obviously. So far, I've done these easy mods: replaced the stock Sovteks with a JJ EL-84 and a JJ ECC83S longplate with matched triodes. This definitely fattened up the lows and low mids, and the ECC83S goosed the gain a bit. I also replaced the stock Weber signature 8 ceramic with a Weber signature 8 AlNiCo which tamed some of the high end brittleness. Stock, this amp was exactly what I paid for, a very iinexpensive, simple tube circuit. With just those minor mods, it was a different beast altogether. Nice and chimey anywhere from 7 to 11 o'clock with increasing grind from there on out. The real beauty of this amp is it's potential for tweaking. I have now chopped it into a separate head, and am going to use both speakers in a series cabinet to get the best attributes of both. The output transformer has an unused 8ohm tap that can be switched out with the stock 4ohm tap or you can throw in a switch and have either 4 or 8 ohm available to you. There are already SEVERAL mod schematics for this amp floating around on the web. There are mods for adding bright/dark switches, hum reduction, tone pots, etc. All of which are relatively simple, as the circuit on the Valve Jr. is so basic.
Synopsis: A great buy for a tube practice amp stock, but add a little dough, some solder, and some sweat and you can have a nice little recording amp for under $200.