The new update for the Timefactor has helped bring a more organic sound in many aspects as well as functionality, but I think there are still a number of "analog" sound improvements that should be made to the Vintage Delay as well as the other delays.
All the great analog delays have the same thing in common – each incremented repeat loses fidelity as the trails continue. This "loss of fidelity" is not only a loss of lows, but also a loss of highs and a general "dirtiness" and loss of fidelity that increases the sense of the repeats sounding farther and farther away.
The best example I can think of is the old Boss DM-2's. The new Boss DD-7 model's the dm2's repeats, and IMO it does an excellent job. This is where the Timefactor is lacking. Watch Boss's demo video during the section focusing on the analog mode:
You'll notice the decreasing fidelity between each repeat. On the Timefactor's Vintage delay, the repeats do not degrade enough, and what little bit of degradation that it does have, it does not occur fast enough. The degradation needs to be fairly extreme, so that by the 5th or 6th repeat they have become much less hi-fi and dirty.
If the next software update could add this feature, similar to the DD-7, I think the Timefactor would be THE ultimate delay. in addition, adding this "degradation" as an option to the Tape and modulated delays would also be killer.