This plugin now has a permanent spot in all the DAWs I use. Combined with Waves NX, it really makes working in headphones a much more productive process for me. I do not get to crank the monitors as much as could in the past so having majority of my work done in headphones and then using the hour or two when I can crank it loud for minor tweaks and edits is a blessing.
There is a wide range of headphone models. The ability to choose between correction or simulation or custom is a useful feature too.
Very low CPU footprint is always important and Morphit barely registers a blip.