Mike,
Not sure about the older voicelive, I use the voicelive 2, quality is exemplorary. Like all things of course, used in moderation. The vocals on Why I'm still here, backing vocals, were done using it, after the fact. I actually bought it for live, but it worked out better for use in the studio. The cheaper voice live touch is also very good, but that is definitely made for live.
Anyone want to buy a really good con in box Voice Prism Plus? ;)
Tony