Yes, it sounds great with and without the transformer, but I didn't compare methodically for an A/B. Still experimenting. I expect the sonic difference would be pretty subtle. But sending a recorded guitar part for a A/B would be interesting. I am going to try a T1442 out of curiosity before I finish it up.
This is a 4:1 step down that takes down the level quite a bit, since it has a ton of gain. Some might want the pedal to be loud to drive your amp, but I would like it to be closer to the bypassed level.
Also I wired it with the secondary going to the switching TRS to allow a balanced out to work as a DI. It sounds great direct in. The level pots need to be turned all the way up, but it's got really good sound. With a TS inserted, the transformer is grounded as in the stock config, and it can go right into the amp.