J Rockett describes the Tranquilizer as a 'swirly machine'. It was originally designed to recreate a classic phase 45 like sound, but with a few more mods they managed to make it do so much more. From smooth leslie to vibe and of course phaser sounds the Tranquilizer is old school tone in a box.
Phase/Vibe - All the way left is 100% phase, all the way right is 100% vibe and anything in-between is a blend of the two. The 12:00 setting is exactly a perfect 50/50 blend so you can lean toward more vibe or more phase, whatever floats your boat.
Focus - There is a general area between 10:00 and 2:00 where you get the dramatic differences but anything beyond that can be very subtle, to no effect at all, so please experiment. You will find your Leslie tones, your Univibe tones and some other craziness in between.
Speed - Controls the speed for the Phase/Vibe dial
Fat - Controls the low-end whomp. If you have the bias set super subtle you can increase the fat control to bring out the effect a bit more for a smoother turnaround.