I got a pod a few weeks ago, and I too am partial to the rectified settings for power chords and some solos. I play alot of heavier blues flavored stuff and rectified gives me sustain without having to turn the "drive" way up. I don't usually use the presets though. I also like the Brit Hi Gain, I think thats what its called, for some of the clean rythms, it can be kinda bright so you may have to add some low end somewhere in the EQ chain. In regards too humbuckers vs single coils, I'll second DMCsilva with another, definitely. I played a Gibson for years, but had to have single coils for some songs. They cut through the rest of the music, not really technical language but, particularly on rythms. The humbuckers give a muddier sound, but can be great for certain songs and certain types of music. As far as far getting away with a cheap guitar, well I've been playing a $186 Squire for about the last 8 years and it suffices for live shows, I've even had people tell me "it sounds more like a strat than my strat" but I'm paying for it now, trying to record with it. Its starting to show its warts. I probably wouldn't by any other of the cheaper guitars other than a Squire.