This thing is cheap; too cheap for me to have believed how good a job it does of emulating one of the most iconic and sought-after flangers of all time. Pair it with a delay and chorus for some Andy Summers delights, or pair it with a screaming fuzz for some Gilmour/J Mascis brilliance.
I own the E-Lady; the difference between that and the ElecLady I confess I do not know, but I will say I perceive a slight volume drop when I turn it on (it really is only very slight though). I put it behind my Satisfaction fuzz, and it completely opens that fuzz up, eliminates the fizziness I experience with that pedal, and (surprisingly) seems to give everything a little more clarity. I'm very satisfied with this.