I own this amp as well (valveking 112 combo). I went into the store to buy a Line 6 modeling amp and was steered to this after not being happy with how the Line 6 amp sounded.

Of course I know much more about tube amps than I did then and I also wonder if, since I'm primarily a bedroom musician that I should have opted for a low power model since there is no way that in my house I'll be cranking this thing up to really drive it :-).

I concur with Slipin that this is a middle-of-the-road type amp.

Depending on your level of expertise with electrical stuff and desire to get down and dirty with a soldering iron, you might consider something like this:
http://www.instructables.com/id/Guitar-Amp-power-soak/?ALLSTEPS

Check this link out for all sorts of crazy mods and stuff with this amp.
http://ultimate-guitar-valveking.wikispaces.com/