I just picked up one of these off eBay and for an older piece of tech, it's quite impressive. I don't think there are other floor-based multi fx even now that are geared up to being used with an amp quite so well. You can globally switch the modelling on and off with a dedicated button if you want to go 4CM. There's also a button to control the loop which connects to your amp, so you can bring that in and out easily. And there's a loop for stompboxes that has it's own footswitch, which can be placed pre or post amp. Really nice.
I like the Digitech modelling - I used to have a GSP1101 and I thought the sounds were great but I struggled a bit with the useability. The RP1000 seems to get around the issues I had with that. There's plenty of silly amp models that aren't a lot of practical use but there's certainly plenty of useable ones. It also seems to sound good straight into the front of the clean channel of my amp, as well as into the fx return.
Nice.
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I tend to use the Fender Twin and Deluxe reverb, the Digitech clean preamp, and the Mesa MK4 models. Also the Octavia and Spark drive models are incredible - in my experience better (for me) than the real thing
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For me, it is amp modelling on a budget.
I hope the recently resurrected Digitech do something new alone these lines. Digitech seemed to have gotten back into releasing their pedal line up PDQ.