Seems most of you guys are referencing your experiences with the VC in a live setup. I can totally see the latency and warbling being masked behind gain, other instruments and sheer volume live that would make it acceptable to use.
I use my FM3 mostly to record, and use either my studio monitors or a set of headphones to listen back and record. Warbling aside, the latency makes this effect unusable to record. It's even more noticeable when using a click track, especially if you want a tight performance. The latency makes me feel like I'm always trying to catch up to the click track which makes me rush the take.
That's why I don't even bother with it, and while some of you get acceptable results (I'm skeptical of those who say they can't hear or feel a difference using it... It's a huge difference even at a whole step down) I personally cannot get results that are acceptable to me.
I absolutely don't care because it takes me 2 minutes to tune my guitar to what I need.
The FM3 is amazing, and while the VC falls short, they tried. Sometimes I have a hard time grasping the fact that people are literally complaining that the FM3 can't tune their guitars down for them.