Not quite a year since my original post, and I'm currently borrowing a friend's TimeLine. It certainly lives up to all the hype, but I'm not sure it's worth $500. They're selling on eBay for $600 and up, though, so a lot of people must disagree with me there! I have one being delivered to me in a few days, and it's super tempting to put it on eBay for a profit, and then reinvest in a Brigadier/Blue Sky combination. Gotta love options...
If you're a delay junkie, check the TimeLine out, especially if you use unique delays and need lots of presets. If you're looking for simply bread and butter sounds, I don't think it's worth the steep cost of entry.