The mid mod makes the mids more pronounced when they are adjusted up, say starting at 3 on the knob. Adds punch to sound.The mids cut alot better and really fill out the overall tone, which I thought it was lacking in stock form. If you turn down the mids below 2-3 you still get the same mid-cut effect as on the stock module if you want that kind of sound. I combined this with the cap mod to get rid of the woofiness on the low end and I now really dig this module. It now has a fluid tone to it when gain is up and still sounds like an old 800 when the gain is 1/2 or so. I went with .022 cap for the cap mod.
Still sounds like a marshall. The XTC has a completely different tone stack so the modded SL+ doesn't sound exactly like it but it has a similar feel to it IMO. Haven't had a EG2 around to compare with so I can't say on that one.