the antidepressant effect of NMDA channel blockers is complex, there is the short term mood lifting effect which is probably dopaminergic, there is the longer term more powerful AD effect which is mediated through some different mechanism (probably through growth factors) and this effect persists long after dosing and long after the drug is detectable.
http://archpsyc.ama-assn.org/cgi/content/extract/67/11/1110
Using regular doses of NMDA channel blockers as an antidepressant is not only pointless it is very unwise, these are not benign substances they disrupt a lot of important neurological functions including short term memory, they also seriously impair motor function, you should not drive or operate machinery under the influence of even a low dose.
MXE as a prescribed antidepressant?
There is next to no chance of any of these old style NMDA antagonists making it as antidepressants, the side effect profile is not acceptable, neither is the psychosis caused by acute overdose or chronic overdose (dosing at a rate that is higher than the clearance rate) or just at random. MXE appears to have significant dose to dose variability and be rather unpredictable, like PCP in its effects. There is also not a single reason to assume that chronic use of MXE is any safer than chronic Ketamine use, which leads to permanent physical and neurological changes.
Finally MXE or any of the related aryl cycloheyxlamines will not make it as medicines because they are tarnished. They were put out into the RC market without first having been put through the legitimate channels so irrespective of their purported medicinal benefits they will be labelled as first and foremost drugs of abuse drugs without any recognised medical utility. They will then be banned. Once they are banned they will never be investigated as potential therapeutics it is simply too risky too bureaucratic and too expensive to carry out clinical trials with Schedule 1 substances. By putting these substances out into the RC market to make a quick buck, the people behind MXE and similar, despite their high minded words to the contrary have killed these substances and destroyed any future they may have had. Slash and burn.
People seem to be confusing the dissociative and inhibition reducing acute effects with the true AD effects, they are not the same at all. People who justify regular use as somehow being antidepressant are unlikely to actually be depressed, rather they seek a continuous drug induced altered state of consciousness which is not achievable due to tolerance and is inadvisable. MXE appears to be rather less effective than ketamine as an antidepressant in the irregular shock dose (insult) regime.
until it is banned MXE is a semi-legal novelty. It is not likely to be a medicine in waiting.