R2R doesn't simulate these effects (to my knowledge). It's not so big a deal when you want things relatively clean, but if you're going for a lo-fi tape sound (a la daniel johnson or something) they are indispensable.
To Michael and all of the R2R customers: What are you guys using for wow and flutter? Any VSTs or AUs you'd recommend? (I'm on Mac)
Wow & flutter is among my favorite audio effects. The only VST that's come close is the actual "Wow & Flutter" vst. I really wish Nebula could simulate this, but unfortunately I believe there are limits as to how nebula handles the pitch shift. I may be wrong on this. I really wish Nebula could do a cool pitch-warped wow & flutter though!!
There are some older programs where tape decks were sampled with wow and flutter. If I remember correctly they were released on the AITB site via torrent. Some could have been in the older official library, I'm not sure though, it's been two years?