I own one and use it for:
- tracking vocals, using a separate factory patch for lead and background vocals
- mixing down, using a custom patch that I developed and saved
I find that it really works well on the mixdown, evening out the mix but staying very transparent at the same time (unless you really squash it).
It has tons of patches for all sorts of instruments that I've played with that work pretty good too. Get the upgrade .mid file for it and run the upgrade and you get a bunch more patches for mastering/finalizing too.
Check out my songs in my link for examples, they all use these same patches....
BTW - I bought mine (stereo version) for 299USD (plus 25$ for shipping) from Sam Ash over a year and a half ago when they were clearing them out.