I got mine yesterday and did not get to play it until tonight---as much as I've wanted this pedal, it had the unfortunate coincidence of arriving on the same day as my Beat Buddy. The Beat Buddy took precedence. Tonight I got them both going, but I did turn the Beat Buddy off long enough to listen solely to the Drop. I did extensive A/B-ing with my Morpheus Droptune. Here is my quick review:
ON BASS:
Utterly slays my Morpheus on bass. The tone/latency/tracking---basically everything. I don't need to say anymore about this, so I'll focus on the Drop itself. The tone was good, not great. Tracking was perfect (though I didn't throw anything too tricky at it). Latency was perceptible, but only barely so. On higher notes I heard just a touch of the warbly, chorus-y sound that some people have reported, but like the latency, it was only barely perceptible and only noticeable on higher notes. In brief use, I loved the octave + dry setting. I'm not picky about the tone of my octaver, I care far more about tracking, and I think this sounded great.
ON GUITAR:
Unlike some people, I've been pretty satisfied with my Morpheus on guitar. I found the two much closer on guitar than on bass. I didn't try every setting. When dirty, any differences between the two were minimal. When clean, I found the Drop has more of a full, mid-range tone while the Morpheus sounds a little scooped. I would say the Drop is a little more faithful to the clean tone, but maybe rolls off the high end a little bit, while the Morpheus doesn't sound all that great clean. Again, running dirt after both pitchshifters really helps.
OVERALL:
I need a couple of more days with it and I want to challenge it some more. However, on the initial testing it seems to have passed what I needed to be---an equivalent replacement for my Droptune on guitar, in a smaller package with better power requirements that is also more useable on bass.
Also, I haven't been playing as much as I would like. But now I have a blister on my index finger.