So a colleague here at my work has been watching my recent pedal purchases. Hes a fairly young guy, and not as serious about guitar as us. He was saying he uses a Boss ME-80 multi-effect pedal with all the effects in it, and it sounds great etc. etc.
Needless to say, I dismissed these claims. Anyway, yesterday he kindly brought it in for me to take home and try.
Actually, the unit has many advantages. Everything is integrated into one not-too-heavy and not-too-big unit. The control interface allows you the best of both worlds between tweaking individual pedals and selecting between whole "patches". Its definitely a fun thing to use.
As for the sound quality, well, I'm not 100% sure. I'm convinced the amp sims on my old Vox Tonelab (which was very unreliable) sounded better. In fact, I didn't like any of the preamp models at all. However, some of the other effects actually sounded really good. In particular the delay effects and overdrive/distortion effects were outstanding.
I find it strange they put so much effort into some areas of the unit and not others.
There are two utility effects in the chain which you can use to setup different EQs and clean boosts. I found that with careful use of these utility effects you could extract pretty good patches out of the thing. They allowed me to compensate for the less good effects.
I need to try it more. There are so many possibilities in it. With work, you can definitely make it sound good. But it doesn't give you those good sounds very easily on all the effects. Those amp sims

I won't be getting rid of my traditional pedals any time soon for an ME-80. But I might try getting a cheap digital multi-effect to play around with. Theres definitely advantages of convenience, and theres a certain fun satisfaction to be had in getting it to sound nice.
I might write more on this later. In the meantime I wonder if anyone has any recommendations for multi-effects to look at.