Alesis makes some good rack units that can be had on EBay for not much $. The Microverb and MidiVerb series usually sell for less than $100 and offer a host or reverb options in a stereo digital format.
I second the Electro Harmonix Holy Grail. I've owned both the Holy Grail and the Holier Grail, and i would say that the Holy Grail is best for guitar application, but if u want to use it for recording too then go for the Holier Grail as it has alot more options like gate, and different type of reverb output.
Alesis puts out somewhat decent stuff but always bugs me out because they'll discontinue something faster than you can imagine. I got a couple Wedges when they were discontinued for some ridiculously low price ($150 I think) considering they were over $400 when they were new. They sound ok but not having anything else to compare it to other than a Microverb and Vortex it's hard for me to give a useful review. But it's definitely better than the onboard Digitech effects in my old K2000... ack! See if you can score a Wedge. It's got 4 sliders on the top that are great for real time control or just ease of editting.
Since you said pedals, I have a BOSS RV-3 Digital Delay and Reverb on my Furman pedal board and it is pretty good. If you want something with a little more vintage sound check out the Danelectro pedal that emulates a spring reverb. Both of these are under $200.