I have TF, MF and PF. I have been experimenting with all 3 trying to get the ray gun sound. The problem with time factor is that time factor doesn't offer fast enough modulation speeds. I hope eventide offers faster modulation speeds for time factor in an update. I have experimented with some phaser settings on mod factor but haven't had success yet. Anyone else achieved this sound? I'll keep trying and post when I get something reasonable.
PS The sound was easily obtained on the line 6 dl 4 via echoplex setting and turning the modulation knobs to taste.