I use a VERY similar Digitech model at home/at gigs...the amp mods really aren't too bad, if you know how to mix the EQ. The most fun stuff is making ultra-specific settings for specific songs (For example, one of my settings has the wah position and delay set perfectly to match "Sirius", by The Alan Parsons Project, which brings the Chicago Bulls into the United Center during their home games- its what we opened shows with

The distortion effects can get really treble-y...I've played shows in which they sounded okay from the stage, but upon watching video of the show later, I realized the high end was just clipping WAY too much...so make sure you watch for that. It's somewhat harder to gauge with the crass sound that the stack amp-mod gives you. I usually try to go with a fuzz amp with low gain and push the high end of the EQ, or a tweed amp with mid-to-high gain, with a nice touch of reverb to get the more "big" rock tone.
Have fun with it- hopefully Santa sends it your way
