Just a suggestion but try looking around for a used Boss multieffects unit.
The old ones (as far as I can tell) are basically the same as the new ones as far as the sounds and presets go... the only difference is the new ones seem to be made more cheaply... ie, lots of plastic.
For instance, I bought a used ME-5 that's just as good as any of the new ones they make and it was less than $100 on eBay.
Also...useful suggestion from the incredible Schmange... buy a thing called RedBox Cabinetulator.
(look it up with Google)
You place it in the effects loop and it gives you a simulated cabinet sound so you can record guitar direct. It totally takes that 'cheese' sound you usually get from effects units and makes it sound like a Marshal cabinet or whatever.