Hmm it seems after all that the DMM is the best option in the 120-150GBP price bracket
In that price range you are pretty limited.
Line 6 I abhor due to the Spider amp I owned but tonecore seems to be OK, and I am considering the rotary speaker sim.
Marshall have released a new echo that looks interesting and quite cheap (and their new reverb looks nice too reverse reverb Oh Yes)
Berhenger still havn't release their sub 30 UKP delay (2.5 second delay)
I have a Boss DD6 which is OK but I like old analogue delays that allow you to get really silly by playing with the regneration and delay knobs. Unfortunitely most digital delays simply can't do anything worthwhile and at best make a sad sort of noise that sounds somthing like "Fweep"
If you want warmth then go for analogue, if you want versatility digital is probably the direction.
Rob...