I am angry enough to reply to this as I am being misrepresented:
I mean it is not serious in the sense that it costs the same a Ibanez TS808 reissue (£120) and it has only one volume control, no tone control, and its main parts (i.e. the tubes, the 6" speaker and the components inside) are made in China for peanuts. It is not to be treated in the same category as a serious amp as often discussed on these boards: Certainly not a Twin Reverb.
Indy - its not bollocks, whatever the Fender marketing team say - I got one of the first of these in the UK - I have spent hours with it, I have changed the valves, the speaker and put switches in the circuit board - I know how this amp works. I like it very much, but I won't say what it aint.
This is what it is not:
A mini Fender Twin - although surf guitar is divine through it.
A mini Marshall stack - 6" of speaker and a Blackface/Silverface tone stack will not get you there - but a wearing in the speaker will allow a low powered OD like a Ibanez TS808 or a TS7 or a Bad Monkey to give a great OD sound.
However,- it has a tiny footprint and no weight at all, it has pure valve tone : and it sounds like, well like a Champ 600 - it is modelled on the 1949 Champ, which was a tiny, low powered, all valve student model - and that is what this is.
As to Fender's claim - well that's true, compared to a 1949 Champ 600 it has a hot pre-amp (i.e. its called a 12AX7 tube as opposed to the now unobtainable 6SJ7) so it breaks up earlier - but even through my Jensen C12N cab or a Eminence Texas Heat it doesn't break up like a Pro Junior or a Vox Ac15 - all I am saying is IT WILL NOT DO MARSHALL TONES AT BEDROOM VOLUME and that seems to be what people are snubbing it for.
I agree its a cracker - a 6" Jensen Mod spealer makes it more so and once the speaker breaks in (2-3 weeks of heavy playing) it can take OD wellish- but it is a Fender champ - and sounds like one (I love it).