If you could tell us what that guitar is as opposed to just giving us a picture, I'd tell you. So long as you have the cash to buy yourself a good amp and/or a better multi-FX than you have now, I'd say yes anyway.
In which case I'd say go for it. But if it's tone you're after, you'll be wanting an amp.
It's listed on Musicians Friend for about $300 and got fairly decent reviews so it might not be a bad investment.