This is pretty cool, but for anyone looking at this and thinking "Hey, it's almost like an ES-5 but with two fewer loops and a whole lot of extra effects" that's not quite the case. Here are a couple of important differences:
MS-3 cannot reorder the external loops. L1, L2, L3 are always in that order. Other internal effects can be shuffled around and before/after these loops, but the external loops move as a single block. In short, it does not have the matrix switching capabilities of the ES-5
MS-3 cannot do parallel processing. L1, L2, L3 always run in series with each other.
MS-3 does not keep your signal analog from start to finish. That's probably obvious given it is a digital multi-effects processor. But even if you don't use any of the onboard effects and just use the external loops, I think it still converts your signal. Probably not a biggie considering the quality of A/D & D/A converters these days, but worth noting.
That said, it looks like a promising pedal. The interface with the 3 knobs and the bigger screen seems much better than the ES series. If they could combine all the features of the MS and ES into a single box, that would be pretty compelling for someone who wants to use mostly external effects but have the option to add something uncommonly used like a flanger or harmonizer when necessary (or even using an expression pedal as volume).
For me, being able to reorder the loops and stack drives in different orders is an unbeatable feature, so I think I'm going to pick up an ES-5 soon.
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