software

Anyone had any experience with it? What is it capable of?

im curious about this too (since its what the guys in priest are currently using)

I think it is a great midi preamp.
It's a hybrid like the ADA MP-1 and Marshall JMP-1.
It has 2 12ax7 preamp tubes and a high voltage toroid transformer
to give you high headroom and dynamics.
You have 3 modes.
Classic tube gain. (think 70's)
Modern tube gain. (think 80's high gain)
Clean. (from pristine clean to slightly over driven)

Built in Hush noise reduction.
Stereo effects loop.
XLR direct outs for direct recording. (I've never tried them).
Midi switchable. (Instant. No gaps or drop outs.)

Here's my setup.

I use it with the peavey 50/50. Which is EL84s.
So my tone may be a little brighter and tighter than most prefer here.
Teamed up with a power amp with EL34s or 6l6s will probably give you
deeper tones if you desire.

I like that the Piranha's mids are sweepable.
Gives you much more play with your sound.

I upgraded to the Piranha from the Pro Gap.
The PG was a very good preamp as well. But, I do notice the difference in tone
with the Piranha. The newer hush in the Piranha is much better than the original
hush in the pro gap as well. Much smoother.

I think it's a preamp that gets overlooked unfortunately.

It's just as good if not better than the ADA or Marshall in my opinion.
Never cared for the ADA. Too noisy.
The Marshall jmp 1 tones are pretty good though. Don't know how well it switches though.
Which is key to me. Doesn't matter how awesome a preamp may sound.
If it can't switch between patches instantly, then it's useless live.

I've had this setup for quite some time now. It's held up great.
No issues. I've used it in the studio and live with no troubles.

Now Rocktron has the Prophesy.
Which is basically a Piranha and a Intellifex (maybe more like a Multivalve) in one unit.

I'm quite happy with my setup now the way it is. So, I haven't felt the need to
switch.

if you go to this link.
from : localhost/down to Dimension X mp3 samples.
The songs:
Open Letter
Xeno's Paradox
Train wreck
where recorded with the Rocktron Piranha and Peavey 50/50.
The others were with the the Progap.

Kent