Yes.
Tracking is excellent but the bottom range is dicey and the top range just cuts off - but I play a plus 8 octave range so this shouldn't cause any problems for standard play. Some of the samples recycle merging down an octave as you go to the upper octaves so you have to pay attention to the range you are playing - high voice is better than the low voice in this respect.
I had to adjust the volume of the effect down (second knob from the left) to prevent clipping on my mixer - this was not a problem with any of the other EH pedals - about 10 o'clock works well. Before I "fixed" it I was ready to take the damn thing back it was so godawful.
The bottom below range has some interesting effects - especially with the voice selection. But that is a lower pitch than most theremins can reach or most players attempt to play.
This pedal is the holy grail for anyone who wants to do vocal or string sounds with the theremin. Adding it with the talking machine fills things out nicely.
The flute, sax and clarinet patches are not so useful since a guitar amp simulator seems to do the sax and clarinet just as well, albeit without the mellotron artifacts.
The best "effect" is a slide from one note to another - preferable over an octave or two range - real ziper-like zip. No, it does not Pitch Correct. - you get every note you play, minus the time of the processor.
I bought it yesterday. I have the B9, C9 and talking machine - perfect for non traditionalists.
You probably will be delighted, after you turn the effect volume down.