Great EQ-emulation of the 1073. It can give warmth to your tracks very quickly. Many users state that it has some kind of glue effect, which I can totally agree. Even just passing the signal through the plugin without engaging the EQ or Pre-Amp/Drive sections gives a subtle difference.
M/S mode makes it also very versatile for mixing and mastering. I usually use it on the master bus.
Now Waves does not say much about the use of the plugin and how parameters work in conjunction in the corresponding manual (i.e. achieving certain tones of warmth, saturation or transparence). Which I quite found surprising for this plugin.
But I could get a little more information from tutorials, including one in which Andrew Scheps is telling how important the input gain feed into the plugin is for the harmonic distortion, as well as the concept and importance of the 'Link I/O' switch at the bottom of the faders (4:14 in the video): https://youtu.be/az1z9ZA1CXo?t=254