I'm looking for a good multi FX unit for live playing and studio stuff. I've heard good things about Line 6's POD live. What, if any, are some significant differences between the XT and X3 models? Are they viable for recording with (i.e. running them into a computer rather than recording through an amp/microphone)?

I've never really looked into these types of things before: the only other multi-fx unit I ever had was a crappy Digitech one that I got when I first started playing. Are there any other good choices besides getting a POD, perhaps for a bit cheaper?
yea they are fine for recording, check out killer buckeye on youtube for some examples. Get the x3 it is better and has more options.

Don't think there is a better option for less money except maybe a vypyr or mustang depending on your genres.