2. Line 6 POD HD500
Another company you just knew were going to figure in this poll somewhere. Line 6 get a lot of flack from certain corners of the guitar community.
But that flack is based on a general trend of antipathy towards modelling, the thing is, that antipathy is really unfounded in this day and age. Line 6 have brought the technology on a long way, and even if you don't like the brand, you have to admit that some of the sounds on the POD HD series are incredible, especially when you consider the price point.
Again, the POD series isn't just about multi effects, it's about modelling almost every single aspect of a rig, and it does a great job of doing this.
Part of the reason for the criticism the POD HD sometimes comes under is down to the price point, it is accessible to beginners who haven't had time to learn about tone and develop their ear, with the POD HD also making it so easy to record yourself and upload your efforts online, there's bound to be a lot of dodgy recordings around.
But ironically, the POD HD is actually a great tool for beginners if they want to learn about different tones and particularly if they want to learn about compression, EQ and all the little things that make for a great guitar tone.