The 360 is a 361 without the machine-triggered switching capability. Last year I installed about 100 361's -They are all transformer coupled and discrete. They take a lot of calibration for seamless encode/decode and you need the Dolby jig. They distort more acceptably than ALL of the later variants, which got Dolby a bad rap for clipping before the tape would give out.
The Bono thing is actually not entirely true I suspect, having listened to the early U2 stuff and haveing done the "encode-only" trick myself a few times. I think that some of the stuff has it, but it's inaccurate to say that all of the stuff did.
For some less-cool comparison, I think that most of the David Coverdale vocals in the 1980's had a similar effect. I also used it on some of Ian Gillan's vocals on his first solo album.
You'll still need a copmpressor, and the compressor will have to be before the dolby in the chain, otherwise the wandering vocal level will cause the dolby to brighten some syllables more than others. -Basically a strong compression will even things out a it, then the Dolby brightens up the tails. -Look out for clothing noise though... the Dolby will go hunting for smal noises to brighten in between lines!!!
Keith