Yeah (M9), I'm guessing the effects are probably the same software as they put in the PODs - certainly from XT onwards. A fully maxed POD XT contains all the models from their Vetta amps, which in turn, I believe, contains all the software models from their stand-alone stomp boxes.
I too love the mods, delays, wahs in my XTLive - not so keen on the amp and cabs anymore now I have a VOX Tonelab LE.
Effectwise, the only thing I wish the Line6 models had, which the VOX ones have, is a "Ducking" control on the delays. I had no idea what this was until I got the VOX, but now I can hardly live without it - you can set the amount that delayed signal(s) are "ducked" (temporarily quietened) as you play new notes. Absolutely invaluable once you figure out what it does :D