the reliability of it is not as horrible as what most "read" from forum. It will depend on the way how it is being subjected to using. I had one close to 5 years and it's still working fine.
The most common complain is with the footswitch failing. In some cases, it is just a matter of opening up the pedal, doing some cleaning and realignment of the area of contact in order for it to work fine again. It's nothing difficult or requires any techincal knowledge at all....
The dl4 has got more than enough functions and with the looper, you will find lots of fun with it. Tone wise, its a delay pedal and it get the job done.
Imho, if you want a dl4, go get a dl4.