A very nice sounding synth. While I can probably make something like this in one of the synths I have already, this one comes straight out of the box with that Boards of Canada nostalgic sound stamped all over it. As a speciality synth it wins hands down.
That's how I feel. This could certainly be replicated in a synth like zebra, with some added effects, but for me, phonec is much more inspiring, seeing as it leads you in that direction from the start.
Other notable aspects of Phonec: the gain control adds thick, punchy distortion that complements the synth's character well. There's an HFO that can add (envelope-modded) FM to the sound, which really multiplies the sonic possibilities. The delay has detune and a buffer effect tacked on - warbly, untamed soundscapes galore!
The more I use Phonec, the more I love it. It's the biggest surprise of 2012, and my personal highlight.