The thing that grabs me about Melodyne 3 is that it wears so many hats with ease.
If you want transparent pitch correction at the click of a mouse - you got it
If you want audiophile pitch correction then you can pull the offending syllable onto a new track correct it and set the original track containing the lead vocal to PLAIN meaning it recieves no processing then export the two files with one click and voila you have a perfect original track minus the offending out of tune words and a corrected track with just the corrected syllables I then import into Logic/PT and I'm ready to mix. Stunning.
If you want to correct a strummed guitar part that is slightly out of time then Melodyne 3 can tighten that up or make it swing or make it track to a template track! and were talking audio here not a MIDI file.
If you want to use the program as a writing envirioment (as I have started doing) then you can hear a whole arrangment in a different key and different tempo with a few mouse clicks just like a MIDI arrangment but it could be 24/192 audio!!
If you want to be happy - it makes you happy - well me anyway
I can already see how the program is strong as not only an editor but also as a great compositional tool - which is clever stuff for one program. OK it's not a great mixing enviroment but that's not it's elan.
I haven't been this excited about software since I got Logic 4.0 many years ago.
I haven't tried Waves Tune but to me for the money it's a one trick pony where Melodyne 3 is almost a Master of all (almost!)
I have spent the last two years recording a new album and now at the mix stage there where many niggles that I was having to except like out of time guitar and out of time percussion and slightly out of tune backing stacks. Now I have been able to fix all my gripes and the mixes are sounding wonderful.
As far as I can see Celemony have answered ALL their critics, the boys have it as far as I'm concerned.
Trebor