It's the AC30 model
I already have the earlier version of the AC30 which is great, but there is no reverb so with cans on it felt kinda too close and shut in. This is an updated model with supposedly better analog modeling circuitry as well as a number of effects. It has tremolo, chorus, delay and reverb. You can have the tremolo on with the other effects but you have to decide between chorus, delay or reverb because you can only have one at a time. That's a small bummer but you have to remember that this is a very small device with very little room for controls. For each effect you can switch between 3 modes, so the delay has 3 delay times, the chorus has 3 depths and the reverb has 3 decays. I have to say this thing just sounds great, very much like being in a room with a big amp if you close your eyes. The reverb is surprisingly nice and ranges from a short decay to a big long deep decay with loads of depth. Not sure I'll use the delay because I'm not keen on being locked into a tempo, but again the modes range from a short slapback to a sort of 120bpm-ish quarter note time.
Another thing they've improved is the connector, which this time is on a pivot so you can swivel it away when you're done. It got in the way on the old model when you wanted to store it. One thing I don't like about it though is that the connector feels looser in the guitar than the old one, so the whole unit swings down when you plug it in. The old one was a tighter fit. Not too much of a biggie though, it just means the controls (gain, tone, volume, FX) are in a different position relative to the player compared to the old one.
Anyway very pleased with the improvement over the old model and well worth it at only $40.