I'm a fellow praise bassist, and I have a ton of eclectic effects. Some get used a whole bunch, others are a sometimes kind of thing.
Chorus - Works great for the slower stuff, or to add some extra character when you want it. Sounds kind of like an organ to me.
Flanger - similar to chorus in use, but is more metallic sounding. Also sounds great after overdrive/distortion/fuzz.
Delay/reverb - also great for the slower stuff, adds extra "space".
Volume pedal - great for those volume swell cello-like tones, or after od/dist/fuzz/octave/envelope/etc for funkier swells.
overdrive/distortion/fuzz - excellent for the edgier songs, or to dial in the tone of a particular bassist. I use mine quite a bit, and love using them on the breakdowns/bridge of the faster stuff.
Envelope filter/wah/auto wah - the ubiquitous sounds for funky stuff, or you can use the envelope filter to cut out everything but the low frequencies and dub things out or use the wah half-cocked for a different sound.
Octave - great when you don't have a rhythm guitarist, to fill in during the solo, or to use in conjunction with od/dist/fuzz and an envelope filter/wah to get synth-like tones. Personally I run mine with 1oct up into my chorus/flanger for more swirly goodness, or 1 oct down for extra low end beef.
There's a TON of others out there, but I'll let someone else fill all that in. The best place to start would be the effects soundclip wiki found at the top of this page and checking out how each of these effects sound and judging for yourself.
(Wiki -> Categories: Effects ->
Effects Clip Database)
The praise world doesn't have to be completely bereft of effects, but you will definitely need to pick and choose your effects (and battles) carefully. Be ready to face opposition to your use of certain effects for certain songs, and take the criticism as a chance to understand the intent of the praise leader through that song. Have fun with it, and don't let it get you down if you play a few sets where all the songs call for a straight up uneffected bass sound. (Happens to me from time to time.)
Edit: also, as for compact and simple, I play two times a week but am quite happy to haul a pedaltrain pro hardcase full of pedals around. You never know when you're gonna have a pedal that fits the song so well that you wished you'd brought along. Of course, you could always get a multi effect like a Zoom to play around with to get the hang of the numerous types of effects. It's a great (and cheap! or at least cheaper than a pedalboard full of effects

) way to get your feet wet.
