Background info: I play at home, practicing/writing music. I'll be looking to play gigs in a year. I don't do much recording. I'm not saavy in maintenance except for changing strings and keeping my cleans clean...lol.
Current Gear: Westbury Standard guitar (borrowed)/Marshall MA 50C amp/Cry-Baby Wah
Genres: Rock and Heavy Metal (with Cleans)
Favorite guitarists: Devin Townsend, Paul Allender, Matt Bellamy, and James Hetfield*
Budget: Guitar is $700, and am willing to pay for either multi-effects pedal options

*I spent some time cross-referencing their gear to find what might be suitable for me.

Multi-effects Pedal:
Digitech RP1000 or Pod HD500x?

I really want to get a multi-effects pedal just to start trying out different sounds before I ever decide to invest in individual pedals. I'm real torn on either of these.

PRS SE Paul Allender, or something similar and cheaper?

I'm looking for an all-around guitar (rhythm, lead, cleans) and based on the specs of this guitar and careful study from the UG guides (like types of pickups and recommendations, thanks guys), this guitar seems to have what I need:

-Wide Thin neck (I have pretty skinny hands and need to play leads)
-EMG pickups (Alnico V magnets for organic and distorted sounds)

I'm not all that interested in this guitar's tremolo because I've heard it can knock the guitar out of tune without locking tuners. An effects pedal can help mediate that.

I am having a few doubts about the guitar (based on some maintenance reviews and pricing) and was wondering if there would be a similar guitar with those specs. I just want to know more options available before I make my decision. I did a Google search on "wide thin neck emg pickups guitars" but I got mostly PRS guitars...

Thank you everyone.
We're all alright!
If you're looking for "wide thin necks with emgs" look at Jackson, ESP/LTD, and Ibanez. PRS is not the first brand that jumps to mind when I think of those specs.

For the multi-effects the RP1000 is a bit cheaper but the POD HD500 is more complex with more options. Both are good units.

I am pretty familiar with Jackson guitars as they are my personal favorite. Check out some of their Japanese made models like the DK2 Dinky.

Jackson RR3 Rhoads and DK2M Dinky
Peavey 6505+ w/ Avatar 212 cab
Ibanez TS9, ISP Decimator, MXR 10 Band EQ
-Digitech RP1000
I would suggest the PRS SE Torero, but I'm not sure if that'd fit within your budget.
I have the Paul Allender and love it. I know nothing about Allender, but the local GC had a mint used one upgraded with locking tuners and included the PRS bag for $400. It is a sweet guitar and the coil splitting really makes it's versatile tonewise.

Both multifx are good. The HD500 is modeled as separate stomps, which is the future of multifx (IMO). Cost would be the main factor for me choosing between the too. A used RP1000 should be available for around $200. You should also look at the Zoom G5.
I will look into these other suggestions. Thanks.

Do you have any experience with the neck drying out at all? I've read some reviews about that.
We're all alright!