Waves is now shipping the Element 2.0 Virtual Analog Synth, an analog-style polyphonic virtual instrument. The first synth to take advantage of Waves’ next generation Virtual Voltage technology, Element 2.0 offers five integrated effects (delay, reverb, distortion, chorus and two distinct crushers), a 16-step sequencer Hold and Retrigger modes, MIDI learn for all controls, and a large, flexible preset library. Other features include high resolution oscillators and analog envelope behavior; filters with zero-delay feedback and switchable Element 1 and Element 2 modes.
Element 2.0 can be used plug-in or as a standalone application.

Waves Audio | http://www.waves.com/plugins/element