Very nice.....I have one the same color. Inch for inch it is amazing, when you consider it isn't really any bigger than a midsize (just heavier). It is my only box that I don't need to leave the bass and treble maxed out permanently. In fact I remember someone on s2g saying he thought the brown ones (studio 1) have more bass than the silver ones (studio 1M's). I don't know if that is true or not, but I have seen different sized center caps on some of these models, so either the speakers themselves were different, or just the center caps (which would only be cosmetic).
What I heard is that a lot of these units ended up being used in pubs & other small businesses in Germany. It's definitely good enough to be used as a bedroom TV driver, as long as you hide it behind some cabinet doors so that the bright lights don't interfere with your TV viewing, lol.
The meter lights are easy to get to, so don't worry about that. Beware that the tuning meter is brighter than the VU meters, so if you want to lower its light output there is a thread on S2g somewhere about how to put a resistor on it. It isn't something I'm skilled enough to do, but it's worth considering. Seems like installing a fan might be another good idea, because these things get VERY warm along the front panel.