This may seem like a stupid question, but would it be worth it to try to sell my 5150 to fund a purchase for an Eleven Rack? Would something be a better investment than the 11R?
Honestly, IF you decide to go for modeling, go directly for the AxeFx. It's the only one that is astonishingly good. The rest (pod and 11rack) is OK and certainly usable but i find them lacking.
If you already have a 5150, just keep it.

Line 6 also recently announced the Helix, which might be worth looking into. Although it's nly worth investing in if you are looking for more versatility or really aren't happy with your sound.

sources: Pod HD500X owner, tested the elevenrack, talks with the local tech guy, etc...
I'd pass on the 11Rack, it sounds pretty good but it has no support anymore, and I don't see that changing. If you decide to do a modeler I'd look into Axe or the Helic when it comes out, or even a Kemper. I personally find the HD500X to be great as well, with enough tweaking I think you can get some awesome sounds.

Pretty much if you decide that you need a modeler get something that is going to have support for the foreseeable future.
I'm just a kickin' and a gougin' in the mud and the blood and the beer.
The 11 Rack is still sold but hasn't been updated (nor does it seem likely to be) for quite a while. It may be a dead product (though still good).
I don't hate my sound at all, I am just used to modelers/multi effects and I feel pretty constricted with just my 5150.
My buddy with an Eleven Rack said the development staff mostly went to work for Line6. I've seen several Eleven Racks on the cheap lately.
Ibanez RG1570 Prestige
Jackson Kelly KE3 - MIJ (Distortion/Jazz)
Jackson DKMGT Dinky (EMG 81/85)
ESP E-II Eclipse Custom (JB/'59)
ESP LTD EC-1001FR (EMG 81/60)
Fender MIM Strat

Mesa/Boogie Dual Rectifier Roadster 212
Laney IronHeart IRT-Studio
Peavey Vypyr 30
Peavey ReValver Amp Sims
TOOOO many T.C. Electronic Pedals. . .
5150, US made? Hell no!

Eleven Rack was actually pretty bad on distortion sounds and I also think Avid will dump it soon. Don't bother with it.

Depends on what kind of music you want, but if you want high gain I'd stay on the 5150. If you want to play around with other stuff, maybe just grab a vst modeler.
What you can do, if you feel restricted and have a small budget is buy a HD500X for 500 or less. You can then use the 4cable method to put you amp in the FX loop of the pedal.

What this does is that it enables you to use your real amp for the gain sound (which is lacking on the HD IMO) and you can send the pedal through the power amp to use models and effects on the pedal. That way you have a lot of flexibility but retain the great tone of your amp.
Quote by AEnesidem
Honestly, IF you decide to go for modeling, go directly for the AxeFx.

I wish I could go straight for the AxeFx, but no one would straight up trade my 5150 for one. haha. And cash isn't an option at all atm.
And I'm kinda stuck on my personal recording because I used to have a shitty Pod XT Live that was USB capable... The only thing I ever found good about that thing...