yeah it is.
the software that comes with it allows you to edit the parameters of all fx, gives you access to more amp models, and allows you to combine different amps with different speaker cabinets. this way you can dial in the sound that you want, save it, and even upload it to your POD.
Initially, when I got mine, I toyed around with it and after a few hours I started thinking there must be more to it than this for 300 clams -it sounded great, but didn't offer much in the way of control. Then I hooked it up to my PC and was blown away. I think you'll be fixed up once you try this.
dmc