I just picked this up at the Post Office at lunch. To those who don't recognize what it is, it's a box that makes my electric guitars sound like they're being played through an amplifier and various effects pedals. I bought it on eBay last week as an upgrade to the POD XT Live unit I've been using. The technology inside XT Live is 7 or 8 years old, whereas the tech in this HD500 is only a year or two old. They now sell the HD500x, which has more digital signal processing capabilities, but this one is several nice steps up from what I've been using.
Within this simple box are something like 22 popular vintage and modern amplifiers, about the same number of speaker/cabinet combos, 120 or so different effects, a 48 second looper, and a tuner. And it can store 512 different combinations of everything as separate, recallable configurations (or 'patches'). My challenge for the week will be recreating the patches I've saved on my older unit and getting things to sound right on the new one before our gig Friday night. This should be fun.