One of the guitar players in my band used a POD X something floor unit for the last year or so, he added a tube pre-amp to warm it up some. Recently he sold it and went back to all analog ... Then my #2 guitar player ditched his analog and is now using a Korg Toneworks 3000 something pedal bank.
I'm old school analog ... just keep it simple for me.
I do think the new crop of effects like the POD etc; offer a lot of bang for the buck, and seem to work well for lots of folks.

... Ahh the never ending quest for the right sound