yep - just got this thing for Christmas and I LOVE it. It's the ultimate practice tool....

easy to use and great for anyone who wants to practice without wakin up the neighbors... Good effects selection, the amp models are very cool too. For the price, it's more than worth it. If you're looking, go to your local music store and play around with it, see if you like what it does... the others that I wanted to look into were the POD XT and there is a new PX4 - R that does recording.

good luck!