From experience, I also recommend to spend quality time – a lot of time in calm conditions when you can concentrate – to try and compare all the sounds in the available (factory and custom) soundsets. After you can make your own soundset with the help of the editor software by collecting the 36 sounds you liked the most from the different sources. (And although it's possible, I wouldn't use the FAVORITES to store additional unique sounds there. I think it's better to keep this place for the most important variations of the 36 sounds, e.g. temporary settings for live situations.)
You can use the default settings for these sounds (they are good

) but if you want you can also improve them by the onboard controls or the editor software.
Simply from the panel, I recommend you try the AMPs (in low amount, max. up to the half), EQs (increasing frequencies), REVERBs/DELAYs (in moderate/higher amounts) for almost all(!) of the sounds. I guess you will be surprised by the results. These settings can highly effect the dynamics, the tones, and improve playability/usability for you.
Then try adding PRE FX and/or MODULATION FX if needed (not always). Sometimes they only colour the sound but in some cases they can give a really new character.
In my opinion the SV-1 is one of the best concepts from many point of view, I love it.