Hi Dave,
As stated by Gutmann, channel two on the Schmidt can do so much variety of styling in tones for guitarists, that it would make a great one channel amp as it is.
Ch one can do Fendery-type cleans with a terrific reverb to smokier jazz tones as played on an archtop "F" hole guitar or anything in between such as country picking. Just add a Tele and a touch of compression and you're there.
Turn up ch one's volume control and adjust the mid control to taste and you can do Vox-style tones, Marshall tones, and more.
The controls on the Schmidt are not there just for show, as on some other amps, where turning EQ dials fails to really adjust the tone much. The dials on a Schmidt, or any Diezel, will really work well to change the voicing of the amp to your taste and style of playing.
While ch 3 has no EQ controls, it has a differently voiced tone then ch 2 has, and can be adjusted by changing the EQ on ch 2. I personally love the way ch 3 is voiced as is, and wouldn't change a thing about it. It can take any guitar and make it sound wonderful.
Stephen