Sup guys!

Just wondering if anyone has any experience using the Pod HD500X? Is it easy to use in a gigging situation? Or is it just super complicated to set up effects?

It's not super complicated. But there's a learning curve and setting up patches can be a pain. Trial and error. Creating a patch using headphones and using the patch in a live situation probably won't sound good.

It can be good for gigging. You can send the audio directly into a PA/monitors.

It also doesn't hurt to buy a used HD500 (non X model). Slightly weaker CPU but you'll save a lot of money and won't feel as burned if it doesn't work for you. You can get most, if not all, of your money back by reselling it.
Ibanez Prestige RG852MPB
Ibanez Prestige RG652KFX
Schecter Loomis NT
EVH 5150 III 50
PRS 212 DB
Line 6 POD HD500X
Deadhorse OD/Boss HM-2
I have an HD500. It's basically the same thing as the X but with less processing power. I got some really nice tones out of it running 4 cable method. Now I use it for strictly effects and as a backup to my whole rig in a live situation. It's not that hard to wrap your head around once you read the owners manual a bit an play around with it enough.
Gibson RD Silverburst w/ Lace Dissonant Aggressors (SOLD)
Electra Omega Prime Ceruse
Fender Franken-Jag Bass

Amps and the like:
Laney VH100R
Seismic Luke 2x12
Dunlop 105Q Wah
Gojira FX 808
Line 6 M9
I have a friend who has a Pod HD500, we use it for recording and it can be amazing. But I agree there is a very high learning curve for new users. (Particularly if you're not very knowledgeable towards effects (Compressors,, EQ's)) But it is highly worth it as an end result.
1. If you buy one, log onto Meambobbo's site and READ his tone guide, particularly if you're going to be working with high gain stuff. It'll save you a lot of time and give you great results.

2. If you buy one, understand that the best results will be obtained by running it into a powered wide-range speaker rather than a guitar amp.