I'm leaning in the direction of a POD 2.0 Pro rack, as I need MIDI control for my vocal effects. The Pod will give me everything I need - distortion, delay, compression, etc., and best of all I won't need to hit any pedals, I can just sequence it to our songs live.
The main thing is, we have a few songs where I'm doing a Mnemic / Devin Townsend style growl, that's somewhere between a whisper, falsetto, and a growl, that sounds really stupid without some light distortion on it.
Bear in mind, we're talking LIVE here so FX plugins are out of the question (PowerBook G4 = Latency.)