Haven't plugged in yet, but if I remember right I liked the sound of the neck pickup but the bridge was a bit harsh.
Of course, there aren't too many alternatives in the world of Firebird pickups and mini-humbuckers. I have a pair of DiMarzios, and a Lollar neck pickup. Might try those in due course, but we'll see how it goes!
Acoustically, it's got a bright, ringing sort of tone. Better for chords than single notes, I think. They made a twelve-string version, which makes perfect sense, although it must have been incredibly neck-heavy!!