The Memory Man was the second delay effect (not counting flangers/phasers/etc.) I ever had, and I was quite pleased with it at the time. I had a Maestro Echoplex before that, which I loved dearly, but it was such a noisy bitch it was tough to use unless you were really wanking. It was also pretty low-fi, as was the Memory Man, but back then that wasn't as important as it is these days. To top that off, it was maintenance-intensive. The Memory Man was a breath of fresh air in that regard.
The digital units I've had since have all sounded dramatically better, each more so than the last. Problem with them is they're not easy to play with. There's a lot to be said for having a few knobs to tweak, rather than rowing through eleventy bajillion presets and 12 properties to get something dialed in right.