I know this has been asked for several years (I checked) and is one I've been asking for the past few releases. Ideally it would be easy to use and would simulate recording at slower or faster tape speed.
 
Anyone else support adding this feature?

+1 Craig's tools/solutions are welcome and work great (worth exploring in the meanwhile) but a single menu item/button option to do this would be very welcome here.

+ uncountable Oh please please pleeeeeeeeeeeeeeeeease!!!

This seems the only thing really lacking from the replication of old recording techniques, which have otherwise received a great deal of development.

+1 for this. It can be a really creative tool.

This is far and away my most desired feature request and has been since SONAR 8. It's the only reason I keep Reaper around, as the implementation there is quite excellent. You can even automate it!
 

I'm in!

Absolutely.   "Riffstation" is another program with on the fly varispeed (preserve pitch).  Awesome tool.  
 
Reapers' is amazing.  Easy to "cheat" too - not that (cough) I would ever (cough) need to.  People don't realize you can slow is down AS YOU RECORD then reset to 'normal' speed.  Makes it easy to hit those fast guitar pieces.

I'm in too, provided that the incorporation of this feature doesn't impact on the efficiency of the audio engine when playing back at normal speed.
 

+2   I could absolutely use this - and the simpler the configuration the more likely to be used.   At least in my case.