This Pro Reverb is in great shape, and has only minor signs of previous wear. It has the transition era "drip-edge" aesthetics, while also carrying over the blackface AA165 circuit. While it has been updated with all modern Fender transformers, all of the original "Blue Molded" Ajax coupling caps are still present, helping preserve the blackface sound.. The electrolytic caps have been changed, along with the trem optocoupler, along with most of the resistors. This is a great sounding alternative to the more expensive blackface era amps, at a more affordable price.