I recently got a new bass overdrive/distortion pedal called the "Boss ODB-3 Overdrive" and I instantly fell in love. The sound is great, there is alot of values you can change (including how much dry sound you want) there is an equalizer as well. There is some other stuff you can screw around with too.

It also works on 5-string bass guitars.
The pedal sold for 119$ CAD and was well worth it, and it makes any song sound great. Best used in grunge/trash songs

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One downside : Batteries die quickly unless you unplug your patch cords when not in use. Although there is a AC adaptor you can buy to use it as an alternative, its expensive.
Link to product overview and sound samples :
http://www.bossus.com/gear/productde...?ProductId=155
I highly recommend this pedal, and I would like to hear about anyone elses experiences with it. Its well worth the cash and I got a 5 year warrenty with it as well.
Avery1555