I just got the pedal and it is the sh##$! I am wondering if I should keep the pedal or buy the rackmount version.Opinions?
It's not an amp, and it's not exactly an effects pedal. It's an amp modeler and a DI box, with the capabilities to be used as a preamp-stompbox with a drive control. I have the stomp box version and think that it's fantastic! How would the rackmount version benefit you that the floor model wouldn't? That's what you should be asking...
if you can afford the extra $$$ then being able to rack the thing is nice. important to me, anyway... also, i think the rack version has a "mid" band, and more output options.
That is correct. The SansAmp RBI (rack version) has many more routing options as well as a mid control. I've had both the pedal and the rack versions--had the pedal version three times!--and they sound about the same. It really depends on how much you need that mid control, and the convenience of rackmount.