Now, a rheostat is not like a pot, it's a bit cumbersome and doesn't adjust the volume evenly, but this is only a minor issue and you get used to it very quickly (I will admit it does feel 'cheap' when you first use it until you realize it's just the way it's designed and there's no way around it) It does not work in steps like a Power Brake or THD, it has a rheostat (not a pot) so you can turn the dial up and down.
I had one, thought it was great and would absolutely buy it again.