Yea, its actually very good if you know how to use it well. You can get some very good sounds from it. My only complaint is that when i have the bass high it causes some bad clipping noises from my amp with the volume up high on it. But thats most likely from the effects loop on my mesa, so it probably doesnt apply to all. I recommend it though... very good pedal.
I think slash uses the boss ge7. The boss ge12 is rubbish becuase it sounds too digital..waste of £100
SLASH uses some effects when playing live. On stage he uses a M.X.R.10 Band E.Q for lead boost and feedback enhancement.

that's what snakepit.org said... and they seem to know an awful lot about him