Allows you to independently alter the playback speed and pitch rate of audio and video files. If you are a musician or interested in audio this means you can slow down complex sequences of audio without the vocal or instruments sounding unintelligible.
Great for learning difficult notes in a musical sequence. For example, you could set a section of the audio to loop at whatever playback speed you want and easily follow what is happening, without having pitch changes. AudioLobe 3 adds the ability to save files with altered play speeds, and a major update to the interface.