Rimshot
It also has ACT (audio cloning technology which profiles your guitar and allows selecting other guitar tones from it, convolution speaker sim, 2 signal chains, and more.  
 
http://www.youtube.com/watch?v=DZ7QIpQ_0mw
 
 

good point Rim...I forgot to mention that...

So your Les Paul can sound like a Strat...humbuckers like single coils and visa versa..etc...

That's going to be interesting...

One day to go!!   Could be great, but starting to wonder about something...
 
Reading too much into this? The "included" effects are way more than the free effects. Did a double take, and is it corrects that the purchase gets you a nearly empty rack. Then you have to go to the custom shop to buy the individual effects one by one.
 
I have Revalver 3 and was looking at the $49 upgrade. This could end up a money drain that could easily go over a hundred bucks just to get the basics.
 
Hope I'm wrong on this, but the wording on the website looks a bit suspect..
 
John

It looks like to me that the below comes with the $49 upgrade:
 
Included modules:
Amps/Cabs - Peavey 6505®, Peavey 6505+, Herr Demon, Basic 100, Fox AC30, BluesMaker '62, Budda® Superdrive™ 18 II, Budda Superdrive V-20, Michael ACM 900, Redhot AD30TC, Peavey Classic 30, Peavey Triple XXX® II, Peavey Masterpiece 50, Peavey 3120, Flathill Dual, Peavey Sensation 20, Peavey ValveKing® MKII, Custom Lite 20W, RIR 2 Cabinet Modeler (including: 1960A 4x12, 430A 4x12, 6505 4x12, 6505 Prototype 4x12, Bluesmaker 2x12 open back, Budda 1x12 open back, Budda V-20 1x12 open back, California Twin 2x12, Classic 30 1x12 open back, Classic 4x12, Delta Blues 1x15, Delta Blues 2x10, Flathill 4x12, Fox AC30 2x12 open back, Jarnmalm 4x12 (with 4 speaker positions), Redhot PPC212, Redhot PPC 412, Sensation 20 1x12 open back, ValveKing 1x12 combo, ValveKing 4x12 (with four speaker positions) Windsor 4x12 straight), RIR Cabinet Modeler (including over 700 IRs), RIR2 Lite Cabinet Modeler
Stomps/Effects/Tools:
C-verb, Chorus CE2, Analog Flanger, PRESSOR, Lite Green, Tremolo, Digital Flanger, M104 Analog Delay, Treble Booster, Audio Stream Splitter, Square-Phase, Käften, Slammer compressor, Greener TS808, C-verb Lite, Sher'ff, 3rd party plugin (VST, AU), World-Wide-Verb, Budda Budwah, Wham!, Again Delay
Input/Output Modules and ACT™ Content:
VU Meters, Noisegate, Tuner, Multiple Chains, Parametric EQ, Compressor, ACT Input (including: LP Std, S-Caster, Peavey HP Signature Select, Peavey JD Omniac bundles, Nylon and Takemine Tasters), ACT Output (including: 4 x Output Profiles)
 
What/where exactly did you see what makes you think that you get an empty rack and have to buy the stuff in the store? It looks like the free version will require some store visits.

Thanks RTucker,
 
Like said, maybe just paranoia, but the list shows what is "included" in Revalver, which looks like a lot of good stuff.
 
Then it lists the few "free" units in the purchase, which are picked out of the included units.
 
Then it gives the price list to get the addons.
 
Made me wonder if they were saying the included units were the scope of what can be assembled, but that the assembly is about to cost a lot of money if you want to get everything on the included list. Would be a bummer to let go of $49 to find I have just a tremolo and green stomp box with a couple amps and cabs.
 
Sorry to all if I'm spreading confusion, and a call or email to the company can explain this. Just that a flag went up at the last moment.  I'd like to get a clarification before doing the upgrade.
 
John

Hey RTucker,
 
Think you're right...
 
Never thought of a free lite version..
 
Puts my faith back in humanity (or Peavey anyway)
 
Credit card is starting to glow in the dark.
 
John
 

I had ask them what time tonight it would be available and they said it will probably be Tuesday mid-morning CST. 
 
Also, I read on the forum that there currently is not any additional modules, beyond what comes with the paid versions, in the store. They have been too busy just trying to get v4 ready to go but they will be adding new stuff in the future.
 
Hope this helps John.
 
Kind regards,
Rick

Rick,
 
The way I read the announcement, it was open to interpretation and I took the low road.
 
Looks like the real thing in the upgrade. Thanks for verifying what's actually going on.
 
Best,
John

There will be a FREE version that comes with the following:


ReValver 4 Modules included for Free

• ValveKing and Custom Lite Amp Modules
• RIR 2 Lite Cabinet Modeling Module (3 x cabs, 3 x mics, multiple mic positions)
• Lite Green and Tremolo Stomp Boxes
• C-verb Lite Effects Module
• Audio Stream splitter
• ACT Content (1 x Acoustic Bundle, 2 x Electric Pickup Bundles, 4 x Output presets)
• Access to the Amp Store for an ever growing selection of new modules, cabinets and ACT Content Go to this site...not the other one, for the breakdown:
  
  https://revalver.peavey.com/download
  

Stlll not available 

Ok...pool time...what time do you think it will be available?

Closest guess gets...to be the closest guess!