I've had a Pod Pro for about a year and still can't get a decent live tone set on it. I've tried connecting it between my guitar and amp and in the effects loop of my amp, and running it straight into the PA mixer. Connecting it through the effects loop works much better if your using it with an amp, but it still takes away from the warmth of the tubes. Running it straight into the mixer has gotten me the best results for live playing. My opinion is that Pod's are great for recording but suck for playing live. The only way I'll use mine live is as a back up if my Marshall fails.

I've also heard that Pod's are very inconsistant. One may sound great, but the one next to it can sound like total crap. I have not witnessed this, but look at the reviews at harmony-central.com.