Wow, lots of responses here… thanks for all of the input! Even though my summer internship with Eventide has come to a close and I'm back in school (quite frankly I popped on here to take a break from my control systems engineering problem set), I'd like to address a few things:
1. Regarding the Tape Delay model, I believe you can already dial in a lot of those tones. Really playing around with those knobs gets you quite a lot of flexibility out of a single algorithm.
2. Regarding having "sub parameters" underneath each knob: I don't really know what else you'd like to be able to access. A lot of those "advanced" features you're talking about are actually configured manually from chaining together complex modules that don't exist on the TimeFactor. There are no real "extended" features on the Factors nor is there the capability to do so (if my memory over those algorithms serves me correctly), so I don't know exactly what it is you're trying to get at. We're pretty much giving you access to all of the parameters to try and help you sculpt your best tone.
3. While vintage delay won't necessarily do a DMM clone, many of the sounds you have all described can already be found in Vintage Delay. My own personal favorite delay sound is to set the Bit knob to somewhere around 11-13, feedback to around 70, Filter anywhere between -10 and 30, and the SLIGHTEST bit of modulation (depth usually at 1 or 2, and rate anywhere from .02 to 1.5 Hz). Setting the mix knob around 15-20 will get that nice ambient wash that sits under your mix, setting it around 40 will get the smeared repeats some of you are talking about. That's what I've been getting anyway, but as always ymmv.
Another extremely important note, and a necessary disclaimer on this statement: this is no longer me as an Eventide employee speaking, but rather me working off of my with experience with Eventide products. But in any case, it is my opinion that Eventide products do a much better job of trying to create new tones and new sounds, rather than model old "classic" sounds. Sure, you can try and get close with a lot of the built-in algorithms and a bit of tweaking, but I often find that in my own personal use when I'm trying to get a Factor to get a particular sound, I find something else WAY cooler in the process. And personally, I'd rather be doing just that – carving out my own path to create my own sounds and inspiration, than copying what someone else has done. Just my two cents.