When I tried a Bugera 6262 side by side to the amp its coppied off, a peavey 6505, I couldn't discern much difference at all in tone etc. There's some clips compairing the two on the other Bugera thread (why isn't this thread there?). There's practically no difference.
Regarding the lack of mids and lows, I didn't find that at all. You may find that mirrored settings don't sound exactly the same, but a little alteration here and there will emulate pretty much exactly the tone of a 6505. Check out youtube. Most recording purists would say "no way, youtube clips suck etc".....but IMO, if you can hear something you like with a crappy condensor vid cam mic, chances are its going to sound pretty good in the flesh and recorded. There's some guys on youtube that have managed to dial these amps properly and get an awesome tone from them. There's also some that sound terrible, but then there's some terrible sounding clips of 5150's and 6505's.