I've had the DD3 for 3 years now and I really can't fault it. Though it is a digital delay, i does have and analog feel to it. It does smoothen out the tone, wich isn't a bad thing in most cases I guess. I now run it through an other amp, so I get the Delayed signal in one amp and the dry signal to the main amp. It really is a great pedal for the price. I now Joe Bonamassa uses it and I've heard, though i'm not sure, that the chip used in it is the same as the one Cornish uses in his delay Rack unit.
As I said, I've had it for 3 years and not a problem, so, is it reliable? Yes.
Hope that was helpfull!