The Timefactor has a preset that does a rotating speaker sound which is very vibey. It doesn't replace my Mojovibe but it is a great sound in its own right. Check out the virtual demo samples on Eventide's site. Preset 2:1
I think it really depends on your use of Modulation. Eventide definitely seems to be more on the ball in terms of versatility and control... quality too maybe. However, if you do not need all the bells and whistles of the Modfactor then the TC Nova Modulator will give you a simpler set up. The bonus on the TC Nova Modulator is that you can have 2 different Modulation effects on at once, whereas, if I understand it correctly you cannot do that with the Modfactor. I use modulation sparingly... only enough that individual pedals would be the way to go, but I like the idea of presets so I'll be going with a Nova Modulator.
Delay, on the other hand is critical for me, so I'll be replacing my DL4 with a Timefactor as soon as I can afford it!
I am definitely looking to pair a ModFactor with my TimeFactor. I couldn't be more impressed with Eventide's new stompboxes. I'd really love to see a LoopFactor, which ditches all of the other effects and just concentrates on being the best looper ever....and a PitchFactor would be cool too....it never ends!