Apparently it's the best way to record audio without a loopback cord.
I want to upload some drum and bass backing tracks to YouTube, play it back at half speed, and record it, because I can't seem to duplicate that particular distortion. Take for example (okay, this is the specific drum and bass sound I want to emulate) this, and play it back at half speed. At normal speed, it is just synth pop, but at half speed it just sounds so deliciously doomy.
That said, if you have any ideas on how to emulate the distortion, I am all (ahem) ears. Bitcrusher?