so is it a really good versatile tube amp for the fairly cheap price for a combo?
It is a good combo and definitely not bad at all for the price; if you can afford it and like the tone it pumps out I'd say go for it.
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Here's my question though (I do plan on trying one out when I have some money saved up), what is it good for? Is it more Metal-y or Blues-y? (And BTW, I didnt notice an EQ on it from any of the pics I've seen, Am I right? (Yeah, I know, EQ Pedal, but, just wondering)
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I tried the 112 and it was really versatile, even using a new schecter hellraiser (EMG 89/81). I mean it could actually do some blues. I really liked it, plan on buying it or the 212 if I can find it cheap on ebay.

Yes there is an EQ, and a pretty nice one to boot. I know the 112 is two channel, lead REALLY cranks out gain, rhythm has a really smooth slick sound to it.
The other guitarist in our band has one, VERY loud, if you're going to be a bedroom user it may be too loud to get a good sound out of, his sounds great cranked a bit, but muffled low down.
Not a bad amp at all, great value. Definitely aimed more towards moedrn rock but not bad for blues or even metal.

There's a virtual version of it on Peavey's new Revalver III software, download the unrestricted free trial (link)and you can get a rough idea of the sort of tones it covers and the way the amp works. Obviously it's not quite the same as standing next to it, but for a free piece of software it's damn close...