Line6 Helix Rack Guitar Processor

Sure, in ten years this will probably be as obsolete as a POD 2.0. Meanwhile, I will enjoy it to the fullest.

+ Works great as a command center for your rack, be it full modeling or a hybrid like 4 cable method.
+ Regular updates fix minor bugs and give away a couple of new pedals and amp models for free.
+ ZERO switching lag with snapshots.
+ Best all-around effects I've heard in a multi-fx box ever.

- Some third-party IR's are infinitely better than stock cabs. Good thing you can load them in Helix if you wish.
- Very few bass amps and no bass-specific drives or effects.
- No isolated outputs, using 4CM with a real tube amp will be a minor pain in the ass and requires extra line isolators.