A friend of mine had the Boss GT-3 preamp/processor. He was able to get some amazing sounds out of the box. He had a chance to buy a GT-5 (the next step up) at the right price, so he upgraded. He likes the GT-5 so well that he sold his Mesa-Boogie and just runs through the PA. I was considering buying a GT-3, but found that the Yamaha DG-Stomp better suited my needs. The DG-Stomp doesn't have as many effects as the Boss, but it offers outstanding preamp emulations and good basic effects. The GT-3, GT-5 and DG-Stomp are well-suited to live performance out of the box. Both the GT-3 and the DG-Stomp are well within your budget.