Has anyone used this cheap-o effects processor? If so, how is it? Though I know it's not a "real" piece of hardware, I'm not looking to use it in a professional sense anytime soon. I just need something affordable, and this thing is well in my budget and has all the effects I'm interested in: delay, chorus, tremolo, wah, whammy, etc. and more. I hear it has a noise gate, is it any good or does it fuck up your tone like bad noisegates would?

I don't plan to be throwing the thing around and stomping on it, I'm aware that it's chump-change gear. Is it worth what it sells for/what I want it for? If not then please reccomend a different multi-effects thingy, cheap and something with all the features I need and maybe an integrated noisegate, or I'll just go buy a Boss NS2 and some LSD to simulate some effects until I decide to buy a more expensive FX processor.

Any opinions are welcome.

I'll probably get it used...

Edit: I've already read the other threads on this and the HC reviews, btw.

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A friend of mine has one. It's cheap but it's decent for home practice and home recording.Nothing fancy but you get a great kick for the buck.
Here's a sample of iced earth's hunter recorded using just the damn thing. My friend plays it using a ESP LTD M1000 (with EMG 81/81 pups). You decide if it's pure garbage or not.
http://cosu.rgc.ro/Mixdown-hunter.mp3

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It hasn't got any line level input if you were going to use it for effects in the loop of your amp

You get what you pay for basically.You would be better off geting the ns2,because you will end up getting one anyway,the noise gate on the v-amp will no doubt be shit.Its good for the price,and you say you would buy it used,it will be dirt cheap anyway.