In very good condition and works great. Needed new caps (common with these) and used a nice set of Nichicon caps - someone had replaced one cap in the LFO previously, and had installed it backwards resulting in a wierd, overly thumpy phase cycle. Otherwise, all original, including those 1458 opamps with 1974 date codes. This is the original phaser, designed by Tom Oberheim to emulate a Leslie rotating speaker. Adding in a feedback loop creates extra richness to the sound that a rotatiing Leslie lacks.