I had one awhile back and things didn't click. I was looking for it to be a Deluxe Memory Man or a Maxon AD900 or some magical combination of both. I sold it and have regretted it ever since. I knew I was being impulsive and missing something. It was nagging at me. With the supply of those MN3005 chips drying up by the day I knew I wanted to get another one before they stopped production and prices went the way of the Klon. Armed with the most recent PGS '$100 off a $599 order (yikes!) coupon', I got another one. My initial reaction was the same. The modulation doesn't sound like a DMM... Then I realized that this pedal is not a DMM and stopped looking at it that way. I started playing with it and realized it is its own AMAZING thing. The modulation has its own unique flavor of melty analog goodness. The slapback mode is killer, the ability to tap analog repeats is so cool....not digital reproductions of analog repeats, but tapping actual analog delay! The oscillation is so much fun. It's built like a tank. The knobs are cool, like they should be on an old Marantz tube amplifier. Mine has zero noise and it doesn't have the headroom problems I run into with the DMM. Admittedly this pedal is crazy expensive, it's a board real-estate hog and it requires two of those prized 'high ma' outlets on your PP2+ and a special cable.....but....it's worth it. So anyway, I churn through a lot of pedals and never really start threads praising any one pedal, but the ML2 is an exception. It's really good. Try one if you get a chance.