Well, if I were a guitar player, I would pick the POD if I was just an engineer I would get the Lexicon. The POD is wonderful for guitar effects, but that is about it. The lexicon can be used for vocals, drums, and just about everything else. I would probably get a POD and then try to find a used multieffects processor, like an origianl Quadraverb or something. They go used for about 100$. Get a used POD for arone 220 or less, and boom, best of both worlds. But, there are tons of great processors out there. You really should decide the application for it, then ask for debate.
MIKE