Ok so heres how I want to set up my rig, after I buy a looping pedal.

Both a line 6 floor pod and a looper will be run through my amp. Then my guitar is gonna be run through the floor pod. A mic will be run through the looper and somehow a bass is going to be in there somewhere. So here are my 2 questions.

Is it worth the money to spring for the Boss RC50 (500 usd) from the rc20 (250 usd)?

Whats the difference between the two?
My Rig:
Fender American Strat w/ texas specials
Martin DX1
Blueridge Br73
1968 Domino Californian
Stagg bass
2006 Fender hot rod deluxe
Gretsch Electromatic compact amp
among others