It is absolutely awesome for sound design. The drive just sounds really good. The ability to dial in just the right amount of feedback to get a delay line that goes on for days is just incredible. Try using it on some pitched samples to create awesome pads and arpeggiations. Try loading multiple instances of it and panning each in different spots. And use automation on the feedback, resonance and drive to get pads that BREATHE. The results can be truly amazing.
BUT it is murderous on CPU. 10% CPU on a machine with 8 GB RAM and i5? That's ridiculous.
So my suggestion would be NOT to use it for doing simple, real-time delays, unless you have buckets of leftover processing power. The CPU load is just too high. You can find much better, much more CPU-friendly options than this for doing basic stereo delays. But if you're looking for a delay for "offline" delays (i.e. doing sound design stuff that you can export/render), you can get a LOT of mileage out of this free badboy. Very Excellent.