I used one back in the day.... Had a trio of those mini effects and they linked together on a single rack. (compressor, gate, and reverb I think.) For the day, they were the best bang for the buck in digital reverbs. No certain if they're still held to the same high regard, but it won't sound like ass if that's what you're worried about.
I don't have the microverb, but do uase the Midiverb II and use it through my PA for reverb and delay effects. It works nice, but don't know if I would use it for guitar. I suppose it would be alright for accoustic, but I wouldn't use it for my electric rig. It may be actually perfect for an accustic rig.the problem is you only can get 2 effects. You need the quadraverb to have chorus, reverb, delay and flange all available. You can pick up a used quad reasonable on Q-list. simple to use and set-up too. Rack mount it with a tuner.
The Alesis reverb is very nice! Glad it is working out for you. Great deal too.
I used a Quadraverb in my live rig for years. Highly recommended.
I also used a NanoVerb in my recording rig for years. I found that is had some really nice sounds, but it was really finicky with the input/output. It was way too easy to end up with a lot of unwanted noise. If you can spend some time tweaking, though, it should sound pretty good.