I love it for recording rootsy reggae, on pretty much everything BUT bass - it nails the dirty variability I find so lovely from the real Space Echo, and does the perpetual feedback degradation thing beautifully.
For my part, I've never had an issue with the LED creating noise, not even under the microscope of my home studio.
I have a pretty raw demo track, with the RE-20 all over it posted on my Facebook band page:
http://www.facebook.com/chriswilliamsmusician (listen to the song "Lady Bird - raw demo" toward the bottom of the music player).
This version has a fade-in from a delay-soaked mess of multitracked improv, so give it about 15 seconds and the "real" song starts. At 2:40, you can hear the delay melting into a trippy mess that I then change the pitch of with the speed control; this is a time-honored dub tactic that I had to try to imitate.
I record each track at separate times, with the echo printed permanently to the track, often while I play with the knobs and separate expression pedal to get a 'performance' out of the delay volume & feedback. Most people would run this effect at mixdown.
To my tastes, tracking drums, guitars & vocals through this unit can get me close to reggae heaven.
