I think it's a bit too egghead for most players - sequenced/beat synced effects are a bit more complicated than your average overdrive. ? I know someone on the forum who has one though and they are good units.
I generally use Guitar Rig for sequenced effects or even slap an arpeggiator on the guitar synth. A good fake for live are the Roland/Boss stepped phasers or the slicer effect in their multieffects.
