Honestly all they really need is a tone stack to be minimum usable pratice amp IMO. With only a volume control you just cannot control much of anything. There is enough room in there to turn it into an 18 watter or a KT88 champ if you like. Just make sure the trannys fit in before you permanently mount it.
Watts does sell nice conversion boards that fit right in. Use better parts and add a bass and treble control. That way now you have a pretty good sounding 5 watt head. Or just use the stock amp but put some switches in there to control the bass and treble.
You can do a lot of things with it. Mine is now a firefly. Not an original part left in it. When I plugged it in the sound was so bad I tore it apart almost immediately. The Blackheart is a lot better sounding from the factory. All it is basically is a Valve Jr. with a tone stack, same guy designed them both from what I understand. I don't think the stock PT can be used for anything more then what it is, maybe you can add another EL84 in parallel but that's would be it.
Just thought I'd add this in case you were thinking about doing the whole Plexi thing to it, which IMO doesn't sound anything like a Plexi. I'll say it a million times a single 12AX7 set up right has all the gain you need even with a TS. If you want to go into real overdrive territory use a pedal. Adding extra gain stages really just turns these low wattage amps into into buzz saws, although some people like that sound, or it is their sound. If you want to go higher gain use an EF86 or 5879 with either 1/2 of the 12A whatever or both triodes in parallel, I used a 6AV6 also. Now you have a truly higher gain preamp without the buzz saw.