Continuing ...
The spring reverb relies on standing waves building up on the springs when a more interesting signal is applied. The digital module, however, seems to be constantly doing both frequency and amplitude modulation ... that is, you see its output signal go back and forth compared to the input signal, AND it is going up and down in amplitude at the same time.
Maybe this is "intuitively obvious" to people more up to speed on digital audio than I am, but it was something I had not expected to see.
Sound-wise, the digital reverb module sounds more like a tape echo than spring reverb, and you have a wide range of effect just by controlling how much of it you blend with the uneffected input signal.
Conclusions:
1. If you are looking for the cheapest solution, use the digital module ... it's $4 cheaper than buying a reverb tank and it takes less other hardware as well.
2. If you want the "singing in the shower" sound, use the digital module.
3. If you don't mind going through 3-4 reverb tank units (at $18 each!) to find one that doesn't burn out, and want classic spring reverb sound, then you might consider using the classic reverb setup.
If anyone would like more detailed information, you can email me at djpb@pacbell.net