I'm not a huge fan of tape emulation (spent too many years working with tape ) but I tried adding a little bit on an acoustic guitar track, and it added an almost subliminal "edge" to the sound. This was on a dance mix of a pretty dark song; you normally wouldn't expect an acoustic guitar in there, but it really helped drive the rhythm - when I muted the acoustic guitar track, the song lost a lot of its momentum.
 
If anyone has other applications for the tape emulator, consider posting them here. I want to try electric bass next...

I've used it for the same purpose, though it does seem to cut some of the high end.  How extreme were your settings?  Did you keep recording/playback locked??

I've used it for the bass drum and toms of Superior Drummer.  It helps the drums cut through the mix without squashing the sound.

I haven't used the pro channel emulator much, but I've found with KMT, the bass takes on a nice growl when you crank up the input. I imagine it would work just as well with the PC emulation.

caminitic
I've used it for the same purpose, though it does seem to cut some of the high end.  How extreme were your settings?  Did you keep recording/playback locked??

I pretty much always keep recording/playback locked with the Tape Emulator. The settings weren't extreme - you don't hear distortion, but bypassing the Tape Emulator definitely weakened the sound considerably. I think part of the effectiveness is the limiting.

Don't forget to add some "noise", gotta love that!
I drove myself nuts trying to find the "hiss" on a mix I was doing for a friend.
He had that POS running on almost everything!
Turns out it was the tape em on the piano track.
Do we really need "noise" on our amp and tape sims?
Almost as ****in'* as the "reverb" in Amp3.
A "little" is a whole lot!
Just like a "real" Fender; great :-(
I mean really?
 
Tom
* whoops! Grew up in So Cal, a surfer term (I think), starts with a "b"; means really, really cool!

I'm doing a remix on a project that was recorded in '91 on Scotch 996 tape. The obvious question is whether or not to use tape emulation on something that was originally recorded to tape!
 
I did try a bit on the drum bus because I'm triggering kick and snare in addition to the existing drums and as Craig states, used for a slight limiting effect it can add just a little bit to the sound.
 

Without the wow and flutter plus a nice hiss sound tape emulation will always fall far short of the wondrous sound tape offered. I suppose a drop out is fairly reminiscent of tape and its sound dropouts. But it just doesn't have the same lovely appeal as a real tape dropout. Then there was that often beautiful sound one could only get with tape stretching. A dropout plus cutoff of the highs. A purely muffled sound that rendered the playback so entertaining. 
 
Ah, how I miss the sound of tape.

John I will say this, these tracks I'm mixing have a warmth and "character" to the bottom end that I haven't heard in a long while. I attribute that to the original tape and analog signal flow. The desk used back then was an AMEK Angela. That being said, I still love digital.
 

Can't speak for the wow and flutter but the noise is there. It needs to be a little louder if you want to use it. The level is so low it will get buried quickly in a mix. If you a insert it to an empty track, solo it, and crank the noise all the way up you can hear a difference when toggling between the speeds. You may have to really crank the track volume to hear it. It is so subtle it gets covered over very quickly in the mix. Maybe they will update it with a little more gain added to the noise knob.