yeah, Melodyne has been discussed here many times in the past. It is one of the coolest music tools available IMO... and what it brings to the table is a good match for BIAB/RBs strengths.

I believe it was JazzMammal who used it a while ago in an experiment to change the notes in a real track to achieve a specific melody. And while the final result didn't pass the guru test (Mac had some interesting and amusing comparisons to make) , its worth noting that JazzMammal focused mainly on moving the notes. He didn't mess with the other features such as smoothing the transitions, and tweaking the little details that could have made it sound totally realistic.

We all use more than one musical tool to create music. IMO, Melodyne is a must-have for every home recording enthusiast who can afford it. It brings so much more to the table than just pitch correction. You likened it to a word processor for music. I think of it in this way: if music were a tuxedo, Melodyne would be the lint brush. It can clean up just about any audio glitch you can imagine.

Bad note? Move it to the right note!

bad timing? drag the notes to the right place!

Too much or too little vibrato? You can make it less or more

want to change a melody to a different key? it doesn't just move every note the same number of steps, it can transcribe the melody to ANY key

Want to create a MIDI melody without playing a controller of any kind? Just hum the melody into melodyne, and export it as MIDI

And more. I am totally blown away by this product. I'd say You'll be happy you bought it, but you already are.