MT-2 is a good pedal for heavy stuff, especially chugging rythm playing.
Not that great for leads though.
Taking out one of the capacitors, I can't remember which one, gives you better mids.
When I was using it I always set the Low and Mid Freq to 3 o'clock, High to 12 o'clock, and Middle to 1 or 2 o'clock.
Dist sits somewhere around 2 to 3 o'clock.
This setting rocks my socks .... Lol.