Just reviving the old discussion of which one is better in terms of the following:
 
1) Pitch Correction Quality
2) More Natural Sounding
3) Pitch Shifting capabilities
4) Creating believable harmonies
5) Features
 
What do you guys think? I like both and use them interchangeably, but I do seem to lean a bit more towards Melodyne as of late, specially after the new release. 
 
 

man, i don't know..
i have waves tune, 
but have never used.
 
i don't use pitch correction 

I use Melodyne Editor almost daily, and it is amazing at each of the tasks you ask about. Haven't used Waves Tune nearly as much, but it seems like a toy in comparison.  Will do the basic stuff ok though.  If you're going to do a lot of higher end tuning, Editor is worth the $ IMHO. 

Thanks for the input.
I've used Waves tunes in the past, but am thinking of migrating over to Melodyne. I have the essential version, but should probably upgrade to Editor.

What I've found from my limited comparassions is that with Waves Tune it is easier to get a good sound, but it's impossible to get a great one. And with melodyne, it is difficult to get a more natural sounding result, but possible to perfect it with time and its different tools.

Am I on to something?

Per something I've read elsewhere, I first use Melodyne and then I put Waves Tune on the track.  Seems to be fewer "artifacts" that way.

i'm curious...
why do you guys have so much stuff that's out of tune?
 

Well, not all of us were blessed with Freddie Mercury's perfect pitch or David Bowie's serenity under pressure.

batsbrew
i'm curious...
why do you guys have so much stuff that's out of tune?
 

 
I'm 66.  The voice is going and the ears are long gone.  
 

rj davis
I use Melodyne Editor almost daily, and it is amazing at each of the tasks you ask about. Haven't used Waves Tune nearly as much, but it seems like a toy in comparison.  Will do the basic stuff ok though.  If you're going to do a lot of higher end tuning, Editor is worth the $ IMHO. 

Yep.  I have them both, and Melodyne is in it's own league.