The VT-3 is part of the Aira family of small and affordable Roland boxes with the new Analog Circuit Behaviour technique that were all the rage at this years' MusikMesse and NAMM show. A guy I know did a demo for it at a local music store and it seems quite good for what it brings to the table. Its ten presets cover most areas of voice fx, like vocoder, auto tune/pitch shifter etc., but the most interesting feature is the synth/lead/bass mode where your voice triggers synth or bass sounds. The MIC inputs have a quite high level, you have to do some balancing (say via a mixer) if you want to use it as a quasi-line input, for ex. for putting effects over voice samples or hooks.
The vocoder sounds okay, albeit a little muddy at times and is not as flexible as a real vocoder because of its limited selection of carrier sounds.
In short, it's a decent and affordable voice fx box that is easy to use and will do the trick for most current productions.
Nice track, Cylotron, some good ideas in there. Dubby club stuff.