I bought a Fender Hot Rod Deluxe 3 a few months back, its 30 watts and super versatile. I've had it long enough to really understand it and to give it a thorough review. I have come to like the amp more as time goes on. You can basically switch between a clean channel that has incredible chime with only a volume knob (set gain), (not all that Jerry tho), but super beautiful, clean headroom/volume for days before getting dirty. Its a really nice, round, but a more modern Fender style tube amp tone. The second channel runs the circuit like a old school deluxe, but with a master volume and gain knobs, which is helpful for low volume playing. This is where you actually get the Jerry tone I finally discovered. The "More Drive" button is basically a booster in line that pushes the front end, from what I can tell. It has some uses too.
What's cool, is playing around with it and keeping an open mind to what some setting might do. it has a presence knob, bright switch, awesome Fender reverb as usual, and a full 3 pot tone stack. There are so many usable tones and ways to tweak, unlike my 65 twin that does it's one trick pony really well at a loud volume. I am really digging on the master all the way up and gain as the "volume knob" like a vintage amp would be. Quite a few styles of clipping you can squeeze from it too. Add some pedals to unlock a killer dirty tone on the clean channel for blues, gets kinda VOXy too. It is seriously an underrated guitar amp.
The effects loop allows you to use it as a dual 6L6 tube power amp only if you wanna use an SMS or POD, etc... Changing the speaker is a must IMO. If I were Fender I would be considering using some better speakers in some models because it makes the amps SOOO much better sounding. Their upgrade limited editions (which I got) with a Celeston was better than the stock eminence they have in the standard version, but it still lacks the headroom factor we all seem to like in our styles of playing. It also seems to round and smooth out the OD on it too. They also use a "premium" set of Groove Tubes in it. Total price $499 new.
I really had faith that it would sound awesome once I learned how to use it and replaced the speaker with a JBL K120. I'm pretty happy I made the gamble. At first I really hated the OD and only liked one setting I could find through my 3-4 trips to the music store. Now I find new tones all the time I dig jamming with. Again, as it goes with all gear, your mileage may vary.....