Depends on how loud the other guys are, how big the room is, room acoustics. I've seen a guy do quite well on a Crate 50W combo with two electric guitars, drums and PA for vocals, but it was a small room. I use a Genz Benz 300w 1x10" combo and have a 210 extension cab for when I want more volume.
Anyway, Long & McQuade have that Line 6 for $309. They have a 200W Gallien Kruger combo for $325
Long & McQuade - Gallien-Krueger MB112 - Extra-Compact Lightweight Combo
If you have no chance to try them out, I'd bet on the G&K, but do as much research as you can online before you buy anything. Check the classifieds here on TB too, always great gear being sold there.