LULUSG actually owns the Competion. I own the Competition's big brutha, the Quick Rod.
There are a couple of sonic similarities to the Splawn and Marshall. Obviously, the Splawn is modelled after the basic Marshall tone. However, the Splawns sound way better (imo); imagine that classic modded Marshall tone you've heard on all those great guitar slinger albums, and you have the basic idea. I posted a clip that I did over the weekend in the Player's section; it has both clean and OD channels, as well as using all 3 voicings of the Quick Rod.
The only differences between the Competition and the Quick Rod are in the wattage (the Competition is 1/2 the wattage) and the way the footswitch operates. Tonally, they are identical. In fact, the footswitch on the Competition is more versatile than the one on the Quick Rod.
Not much more I can say. Craftsmanship, build quality, tone, and customer service are all off the charts. I've never been happier with an amp.
So, yes --- less expensive, hand made, and blows away the Marshall!!!
Phil King has heard my QR at a gig, and can comment on it in that setting.