My aunt wants $150 for it, which is still a lot of money for me. I've been playing for about 8 years now but have never been big into technical gear like this or any kind of recording or anything. I like playing with effects/ distortions and whatever so I'd at least be able to use it for that, and I'm sure I'd get at least some enjoyment out of the loop thing. And from what I understand you can plug the thing into a computer with USB and record just like that with the included software correct? What if I decide to record myself playing different things, could I run my bass through it (without any effects, I've tried guitar effects on bass before) and record to my laptop the same way and put the two parts together?

Basically is the pedal going to be to overkill for me to make use of? I do kind of like the idea of recording some stuff now, but still I don't even know how much the thing can actually do. I don't play in any bands at the moment so if be pretty much for home use (I do play in my schools jazz band so perhaps I would use it for that some time, but probably not).
It's worth it. It can do everything you asked. If you want to sell it, you should be able to easily get your money back. And benefit from the experience of owning it.
For that price I would recommend you pick it up. They are very capable units. I don't see any reason why you couldn't run your bass through it. I got one recently and still have to do a NGD about it as I haven't seen a whole lot of talk about them on this forum.

Jackson RR3 Rhoads and DK2M Dinky
Peavey 6505+ w/ Avatar 212 cab
Ibanez TS9, ISP Decimator, MXR 10 Band EQ
-Digitech RP1000
Cool, so when I record to my computer do I need to buy recording software, or does that one program you can download from the digitech site do recordings? Otherwise, what would be a good recording software to use with it that isn't going to cost 100s of dollars?
Reaper. Or Audacity. Audacity is very simple but has latency problems when recording multiple tracks. But it's still worth installing for it's ease of use.
I was actually watching videos about reaper and I like the fact it's only $60. I especially like that I can try it for free for a bit.
If you have an apple computer or even an ipad/iphone now you can use garageband.

but wow kind of a dick move to charge your nephew for a pedal and I assume you're probably in your teens
$150 for something that's $500 is one super deal. I wouldn't call that a dick move. Either way, you should most-definitely grab it. Especially since you said you like playing around with effects, this will give you a good amount to play / mess around with / use. Enjoy.
Definitely get it. And you can definitely use it with bass, the RP and BP series are the same thing with slightly different software to give the different amp models.
I just got a rp-1000,came yesterday-(NPD coming soon).Love it so far,really versatile.
Esp Ec-1000 VB with Emg 81/60
Esp ec-1000 Snow White with SD Jb/Jazz
Esp ltd f-50
Randall rd-20h
Randall rd112-v30
Digitech rp-1000
Quote by JAHellraiser
but wow kind of a dick move to charge your nephew for a pedal and I assume you're probably in your teens
Well, it's like at least a $50 gift as you could easily flip it on CL for $200.
Lol I bought all my guitars, amps, basses, etc from my uncle. He actually died from leukemia 3 weeks ago so my aunts selling all his stuff to get some cash. I will never sell the thing, if I do it'll be back to my aunt.

And the rp really works on bass!?!? Because that would just be incredible for me, I'm not sure if I play bass or guitar more so I guess it's half and half then.