With the Falcon and a few other models, Gibson was ahead of Fender in bringing an amplifier with reverb on the market.
In addition, the Falcon had a separate monitor output at line level, to connect the amp to a separate "Regular Amplifier" (the Falcon being referred to in the brochures as "Reverb Amplifier") and create a stereo effect.
The Falcon's sound is described as "full, rich" and "sweet-sounding", with a "raw, gnarly, compressed tone" at higher volumes.
It is relatively rare: according to Gibson's records 204 were sold in 1961; the next year, the Crestline design was introduced, involving a redesign of the control panel as well as the circuit.
[1] There were three variants of the Crestline version of the Falcon, all with similar specs that lasted until 1965-1966.