How About the Korg PX5D
I used the Line6 Pocket POD for close to a year. I feel that it is a well made product and very well thought out in design. I used it with my Yamaha and have it hooked up to my AT headset most of the time and also to my VOX Valvetronix AD30VT. The presets are at best interesting as it helps a lot when it comes to getting some of the tones of popular bands, on the fly.
It does not do quite that well if you plan on tweaking the settings on the hardware but with the accompanied software, you can.
See this local review first -
http://soft.com.sg/forum/guitar-fx-reviews/93590-line6-pocket-pod-express.html. But that is for the Express.
I own the Tonelab LE as well but this little device is good for for quickly picking up the guitar and just practice in private. A reasonably good headset like the AT headset I use, helps in bringing out what the PP is capable of doing.
However, I have moved on to using the Pandora Korg PX5D mostly because I needed the rhythm accompaniment, the phrase trainer (albeit a measly 80s of capture) and also the onboard recording it is capable of. It does not have the popular presets the PP has though. I must say the rhythm is amazing, you can create a complete song set with it!
http://www.korg.co.uk/products/effects/pandora_px5d/fx_px5d.asp
It costs more but I have found that it does offers endless tones as it allows you to set just about everything including how the various effects are chained up. On top of that, you get to save 4 presets, A, B, C and D - which is really good if you are preparing for a performance. With the optional footswitch, you might just away with using it live. That is even better than my 30VT amp which has only 2 presets. The AA batteries appear to last longer on the PX5D than on the Pocket POD. Mind you, the POD uses 4 whilst the PX5D, just two.
Lastly, and this came as a surprise to me - the software or how the whole thing works is totally similar to the Tonelab LE. That is because the software, I suspect, was developed by the same company that puts the workings into the PX5D and Tonelab. It is also interesting to note that Korg is associated with VOX. It is evident in how similar both the edit software features and interface are from Korg and Tonelab LE. If you compare the hardware, the PX5D is tiny compared to the LE (with tube) and the difference, SGD100.00.
The PX5D does not look as slick as the Pocket POD. If I were to buy my first practice device, I would not hesitate to go with the PX5D. It is like a pandora box, potential for live (with resonable support and protection) and costs less than the LE.