Lexicon PSP42 is a high-quality digital stereo delay and phrase sampler plug-in based on the legendary Lexicon PCM42 processor famous for its unique concept and distinctive sound.
In version 2, the original vision of Lexicon PSP42 has been enhanced both in sonic accuracy and feature flexibility. In addition to the lush tape saturation algorithm and emulation of the variable sampling rate delay line that made the sound of the original PCM42 so unique, version 2 now adds even more precise modeling of the hardware's audio path, in a manner that allows the user to quickly decide on how much of the original character should be used. In addition to the Legacy processing mode of the previous version, Lexicon PSP42 now offers three alternative modes
Clean: a pristine signal path with no emulations
Lims: engages the original hardware's two opto limiters, one at the input and one just before the A/D - the first affecting Dry and Wet signals, and the second affecting Wet and Feedback signals
Full: engages emulation not only of the limiters but also of the original A/D and D/A converters in the hardware PCM 42, whose non-linear behavior added a unique sonic twist.
Lexicon PSP42 v. 2 adds several new features unheard of on the original hardware, including up to 28800 ms of delay time, adjustable Hi Cut filter frequency, LFO tempo sync and waveform phase adjustment, adjustable input level sensitivity to simulate -10 dBV or +4dBu operation, options to invert the Envelope Controller signal or control it with a sidechain input and four Direction modes to simulate various forward and backward repeat options. It even has a Bypass button that leaves the input limiter in the signal path, providing a subtle, realistic coloration to "dry" signals. All of these new functions are presented on an easy-to-use Extensions panel under the plug-in's standard controls.
Lexicon PSP42 excels at all types of delay-based effects, from tempo-locked feedback delay with filtering to modulated effects like flanging and chorus. The modulation section uses the PCM 42's unusual trick of changing delay time by altering sampling rate to create everything from gentle animation and swing to unpredictable alien sound effects. Superior DSP algorithms allow for smooth operation with even the craziest settings, combining the plug-in's infinite possibilities with unmatched sound quality.
PSP is the sole developer and manufacturer of the Lexicon PSP42. Functionality and sound of the Lexicon PSP42 have been approved by Lexicon. PSP is responsible for all customer support.
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Updates: official site does not provide any info about changes in this version.
️ PSPaudioware Lexicon PSP42x 2.0.2 
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