+1 for the DigiTech Bad Monkey! I bought one about a year ago, and took it back the next day because it was a tone-sucker when it was turned off. Not a True Bypass pedal.

It sounded so wonderful when it was turned on, though, that I went back for a new one a couple of weeks ago. It was only $50 CDN; probably $35 or $40 stateside. And it doesn't sound bad at all when its turned off.

It may not be a true bypass switched circuit, but I think they tweaked it a bit so that it no longer sucks all the detail out of the clean tone when its turned off.

And when its on, its a wonderful thing! The tone controls make this one of the most versatile pedals I've ever auditioned. This is definitely NOT a one-trick pony! Very touch-sensitive at low gain, just like a good tube amp. Smooth and creamy - not fizzy like a DS-1.

Try it- you will like it! :D