The MXR M101 has a great sound to it, a really wonderful tone. I would highly recommend it over any other phaser in the same price range, nothing can touch it in terms of its sonic quality, and it's a great bargain for the money.
That said, I would have given it 5 stars, but the phaser adds a little gain to your signal when it's on. This can be a distraction in quieter live situations and is uptick in volume is particularly noticeable on recordings.
MXR M101 is really good phaser for the money 
