Pedals or Rack Effects for playing live?

I definitely prefer to keep it simple live. For a while I had this totally Spinal Tap rack with a Bogner Uberschall, a Marshall Valvestate, GCX, G-Major, about 5 pedals, wireless, and something else. Split my Mesa cab and had the GCX programmed to change all the pedals, amp channels, etc. It was KILLER sounding. But the rack with the heads/efx was like 5 feet tall and insane to take to a gig!

So I went the exact opposite direction. Now I'm doing this: Guitar > Wireless > Boss NS-2 > Framus Cobra

I completely hate pedals live - so if you want a bunch of effects, I can't recommend the GCX/G-Major combo enough. You can set the MIDI pedal up to change your amp channels too and it is really slick. G-Major sounds awesome...and the GCX is easy to program.

We play to a click live, and have a pretty small amount of clean or effected guitar stuff, so I pretty much put all that stuff on the backing tracks and play one channel the whole show so I can interact with the crowd better. Works for me because I don't have to worry about changing patches and crap....just hit the master volume switch for solos....
 
Boss GT-8 running 4-cable method into 5150. The whole live show environment guarantees that your guitar sound isn't going to be amazing anyways, save the boutique nonsense with it's subtle nuances and "betterness" for the studio. Live show is all about getting a guitar sound that cuts, sounds half decent, and is quick, easy and convenient. Multi FX does that perfectly for me! Your guitar sound is never going to sound as good live as it does in the studio and any of the subtle differences you get from having a $300 overdrive instead of the tubescreamer model built into your multifx unit is going to be completely mucked and masked by the horrid venue with shitty acoustics, crappy PA gear, and hundreds of people making noise and acting like idiots ;)