I've been itching to get the Line 6 Helix. However, I truly love having individual pedals, though at some point it becomes impractical for me. Due to a situation that I won't go into here, I'm more or less starting over gear wise. I've been pretty set on getting the Helix as my do it all effects unit but there's a big part of me that rather go the individual pedal route. The final decision, as it would for anyone, depends on my personal needs/wants etc...
So my question here isn't what should I get.
My question is: If you had a $1600 dollar budget for effects, would you personally get the Line 6 Helix or get individual pedals (I guess you can opt for a different multi fx processor too if you want) and why?
For anyone who would go the pedal route, which pedals would you buy with that $1600?

Thanks in advance for any replies.
without knowing what your fx needs actually are it's tough to advise. I'm a pedals guy but my board only has 4 pedals on it so it's pretty easy for me. depends on your amp as well. you can do both if you want. dirt pedals tend to be better than those in fx units. for time based fx you could get a multi-fx unit .
I've already made this decision, and it was the Helix that won. Lots and LOTS of pedals in the plastic flappy-top bins these days.
I'd probably wouldn't consider the Helix if it were gifted to me...

Personally, it would involve a lot of what I am trying to achieve and the type of amp I'd like to go through, so it depends on how many useful channels/sound I'd have out of the amp. Considering that it is all a pedal project, I'd imagine some kind of Marshall-y amp, like a Friedman which has a great clean and a good crunch channel.

I pretty much know that I'd like to have a noise gate, eq, delay, echo and some kind of modulation. Occasionally, I'm also known to switch a wah pedal. Tuner would also come in handy...effect switcher might also be a good thing.

I'd go with:

Voodoolabs Sparkle Drive or Zenman OD/Boost pedals for overdrive (about $150)
Voodoolabs Chorus ($100 used)
Voodoo Lab PX-8 Pedal Switcher ($300)
Boss RE-20 Space Echo pedal (about $230)
TC Flashback x3 ($300)
Vox Wah $100
EH Smallstone Phaser $100 (used)
Tuner - not really picky, Korg Pitchblack or Carl Martin Tuner (about $100)
MXR Noise gate and EQ - about another $100 each

That's about it!
If its just for effects, maybe not, but I have a Helix AND a pedalboard, and often use them together. The effects on the Helix are really good, the best I've heard in a MFX unit, but I have some pedals that I can't live without.

If you want simplicity and convenience and general quality, go with the Helix. If you have a very specific idea of what pedals you want, then nothing will do except for those pedals.
I'm just a kickin' and a gougin' in the mud and the blood and the beer.
I have no problem with MFX units in general- I have a few- but I prefer pedals.

While a MFX pedal may do many effects well or even EXTREMELY well, the pedals I buy I'm buying because I think they do what they do better than the MFX units with which I'm familiar. A few even do things no MFX unit does...yet. (I would not be surprised to see someone develop a MFX that even boutique pedal makers simply supply pedal apps/sims for in the next decade.)

If I were gigging, though, I'd have to give a serious look at a high-end unit like a Helix, just for simplicity and ease of use. And honestly, while EXOTIC PEDAL X might deliver a certain effect better than the Helix, the Helix is probably good enough 90% of the time.
Sturgeon's 2nd Law, a.k.a. Sturgeon's Revelation: “Ninety percent of everything is crap.”

Why, yes, I am a lawyer- thanks for asking!

Log off and play yer guitar!

Strap on, tune up, rock out!
I would go for pedals. With $1600 you have a decent budget. I find that pedals are more inspiring. Sometimes I just get inspired by a pedal and spend a couple of hours getting sounds out of it as it inspires my playing. Even the simplest of pedals would get me there.

On the other hand sometimes I get carried away and it is quite expensive. As you buy pedals around a 100 each you loose track of your expenses. MY simple 5 pedal setup costs between 700 and 800. Now I have over 30 pedals and still I did not finish my 'big' pedalboard.