There are a few builtin envelope types right now - ADSR, a Skewed Sin (kind of an AD envelope with parabolic shape), and an envelope follower. You can also use the sample players to play back CV. So you could record an envelope from something else or even hand wiggle one into a one of the looper/recorders, then trigger it and play it back at different speeds.
You can have a pretty large number of envelopes and VCAs. One thing to keep in mind is that the ER-301s outputs are AC coupled, so you can’t output low frequency CV signals. However you can bring audio signals in through the many inputs, and use the internal envelopes/vcas to control the signal. It’s also a great mixer.
As far as the generated oscillators go, the sine oscillator is really nice and fully featured with sync, linear and expo FM, phase modulation. The saw and triangle waveforms are not anti-aliased at this point. I like the sound of them but they could be too digital for you depending on your tastes.
The firmware is less than half finished (currently on v0.4) so I think there’s a good chance we’ll see more generated oscillator types and anti-aliased versions at some point. Then again, I don’t recommend buying something for what it may do in the future. Make sure there’s enough to make it worth it for you as is, and anything added will just feel like a bonus.
The sample players can loop any single cycle waveform you care to import, though, and you get V/Oct control of the pitch. So in that respect your choice of oscillators is pretty unlimited. Any single cycle waveform you can download or sample yourself can become an oscillator and it sounds as good as the source. The manual grains unit also turns samples into an interesting oscillator.
The filters are digital obviously. I like them a lot. RIght now there are 24db low and high pass resonant ladder filters, a 3 band parametric EQ, and a convolution unit that can handle short (<0.5sec) IRs - very usable for filters, but only very short reverbs.
I think one of the huge strengths of the ER-301 is that just about everything can be CV controlled.
Hope that helps some. Happy to answer more questions.