The POD 2.0 and the POD XT aren't bad. I have a POD 2.0 set up right in front of my counter so it's what I wank on when my department is dead.
POD XT Live? I think it sucks cock. I played with it and I fucking hated it. I have a Digitech RP7, which they discontinued years ago. I've been thinking about either getting a Boss GT-8 (if you don't like Boss, don't flame, the GT-8's tone is fucking awesome) or a GNX4 for it's recording capabilities. Though, I think I need to focus more on the tones for live use and the GT-8 has great fucking tone.
But to answer your question, yes, the POD is good but there are better things.