2 channel mic pre. Not bad as a mic pre, in fact about as good as it gets in this price range. Mark is hands on with his products, fantastic customer service. I got this from Mercenary (RIP) in '03, and used it as a preamp on all sorts of EPs and demos, but I rarely if ever use them for that anymore. Nowadays, it serves largely as a stereo active DI for things like keys or bass, and it works awesome for that. If I am going somewhere and need a very portable 2 channel mic pre, I would use this. But I can't recall ever doing that. Not sure I've used it plugged into a microphone in maybe a decade, but if I had to, would do it in a second, solid unit.