Zoom G1X. Great price, heaps of effects to play with. I just recently upgraded from my ancient BOSS ME-5 and I love it. In Australian dollars (AUD is buying about 80 US cents at the moment I think) it cost me $169.00, with most single effect pedals hanging around the $100.00 to $150.00 price point; this makes the G1X an absolute steal at this price.

Two words of caution before buying any effects.

1. Effects do not make you play better. :) Obvious yes.. but it's true that some beginners think that if only they had the right effect, they could play that certain song. First you need to be able to play it, then add the effects later.

2. Try before you buy!!!!!!! No matter how many people say it is great.. music is an art-form and only the player can be the real judge on how it sounds.

Check out the Zoom G1X though..