For me, this snare is near perfect. It's articulate, very responsive and 'fast'. By this I mean it gives an immediate response to the playing of both very delicate grace notes and louder back beats. It will identify any technical weaknesses in your playing, which I think is a plus!
The tone is well balanced and gives both a full range of frequencies as well as having a crisp cut through, which means it is not lost in the mix when the rest of the band show up. The full characteristics of the drum are best appreciated when it's under the microphone and in the recording setting. Then it's quality and nature really shines through.
I compared this side by side with a 1974 Acrolite, and the 6.5" version of the same drum. I initially intended to buy the 6.5" model, thinking this would give me more tone and body, but that was not so. In my opinion the 5.5" had more openness, had a larger effective tuning range and generally more character and body. (It has a wonderful ring, but not overbearing - I think any more, perhaps from the steel or brass versions, would be too much for my taste.) For my style of playing, which is predominantly funk and jazz biased, it was an obvious choice. That said, the 6.5" is an exceptional drum too but I can only afford one! Just give consideration to the sound you are looking for personally.
Compared the the vintage Acrolite the sound quality was virtually identical, but the Yamaha was much more focussed and the snare response was superior, as you may expect from a modern drum.
In conclusion, I can't enthuse about this drum too much. It's a joy to play and I just want to stay playing it all day. This is money very well spent!