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Dr.Justice, I am reconsidering the Demora over the Lexicon 400, any views 
Hm... that's two very different boxes... The Lexicon is a vastly more powerful effects processor with it's 4 separate fx blocks that can each perform any of a large selection of fx algorithms, including 7 different types of delay, while storing it all as user programs. The Demora on the other hand has only the one delay type with no program storage.
So it would depend on whether you want more fx types and programmability at the expense of some menu diving, or if you specifically want only a straight up delay with all controls available on the panel.
The Demora can be voltage controlled, so it would blend nicely into a MatrixBrute/modular environment. It can also be re-patched internally using the
AIRA Modular Customizer since it actually has a modular structure where you could add LFOs, envelopes and filters etc.. That's actually crazy cool, allowing you to make it into a completely customized delay effect. The Demora also uses a sample rate of 96kHz vs the Lexicons 48kHz, but that isn't normally critical.
Perhaps you're like me in that you're not too keen on working with tiny LCD menus? In that case I can see why you're considering the Demora. Personally I chose the Strymon TimeLine to get hands on tweakability combined with a selection of 12 delay types, line level stereo in/out, top notch sound quality and 200 user programs. There's a range of other options sitting between Demora and TimeLine for performance oriented delay-only fx - check out one of the many delay round ups e.g.
here
