I had the same questions. The blippy and weird effects don't impress me at all. I wanted to hear the Halls and Springs and Plates.
I'm not sure why, but this comprehensive YouTube demo is NOT linked to on the Space product page… http://www.youtube.com/watch?v=C4gGf2EF18c . I like it because Alan goes through every effect one by one. (I swear, after hearing Blackhole 15,000,000 times after NAMM, I was glad to find out it did something else.)