Dude, this thing is bugged out! First of all it's got a crazy color scheme that you can't escape. It looks like it's greyed-out (deactivated) but it's not...
Second, you'll know it's working when it starts to blink in a green/purple overlay that looks like you need 3D glasses but you don't.
Third, it has the weirdest input choice I've ever seen, there's a middle section with input waveform analysis that lets you move a slider to select which part of the plugin you want to go all blinky and make sound.
Sound. Other than the visual stuff which instantly draws you in with no hope of escape, DDLY is a lot of fun to play with because it does something unique -- it lets you choose how much of the input signal goes to the delay, sort of like having a gate before your delay effect. This allows you to grab the sound of only snare hits in a drum loop, for example, without generating total washed-out mud.
The Grain delay can generate some amazing cascading pitched fibrillations, and the analog delay module does wonderful things when you change the delay time and smear everything all over the place.
This is what Izotope has to say about it:
"DDLY Dynamic Delay is a one-of-a-kind effects plug-in that combines the responsiveness of dynamic signal processing with two paths of analog or granular delay. With DDLY, keep it clean or make it wild—whichever feels right for you. Split it across different dynamics and DDLY reacts dynamically in real-time to the performances in your music."
They also thoughtfully included a block diagram of the signal flow, drawn by somebody named Maya, who is eight years old. Notice her color choice on the output signal.
Here's a little sound test I did with a stock drum loop. I picked a slow one with lots of space between the hits so you can hear the delay effects happening. This only gives you a taste of the analog processor, not the grain.
By the way, watch out for the feedback knob -- this is one of the REAL delay modules where feedback above 50% will make a self-generating signal that takes itself to sonic wonderland and brings you along.
OMG Steve shutup and give us the DDLY DOWNLOAD LINK!!!
Thank you Izotope.
UPDATE: bad news, the free version was only active during December 2015. Now it's back to $49.00 purchase price, but, you get a nice trial version period during which you can always record a bunch of its output and use it later. Makes you think ahead and make decisions rather than waiting forever to print something. Press the red button.