Anyway...ive always wondered about this, but which is better, to have a crap load of effects pedals, or just have one with all of the effects in it already? And well im at it, which one of these multi-effects pedals (someone correct me if im wrong about the name) is the best, and which one is the best if your trying to mantain a low budget. Thanks
if you have the money to buy individual pedals, get them. Or if your a tone freak. But if you want to have many presets of delays, phasers and other effects, you should get a multi. I kind of have to lean toward the multi side, that's just what I like
All in one is best for me because you can go from clean w/chorus to heavy with a phaser (for example) with one click of a programmed pedal. I use a rocktron expression rack unit with a midi pedal so I can't tell you which unit to purchase.

Good luck, rock on....
Guitar & Bass
Ask yourself honestly, what do you need? Does distortion fit into the style of music you want to play? Are you ever going to use that flanger? I guess it just comes down to need vs want. If you really like one particular effect, go for a single. If this is your first pedal and you want to experiment, you can go for a multi effects pedal. Hopefully get something that will resell okay in case you decide to go for individual effects down the road.
Got Bass?
And there is one exception to most, if not all multi effects (floorboards), the wah's suck. period. So if you want a wah effects, get your own wah pedal.
The ability to switch effects in presets versus switching them individually can pay off in spades in many situations. As mentioned, it really comes down to need vs want, but if you need the switching process to be as simple as possible a multi effects unit may be good regardless. Of course there's always the option of a switching system of some sort. Amass the individual pedals you need and use either a Midi switching system or that thing that Carl Martin makes in order to be able to do pseudo-preset switching with individual pedals.

On another note, I was pleasantly surprised with the TC Electronic Nova System. My roommate has one and it's surprisingly good sounding and surprisingly easy to use.
ESP LTD EC-256 and a Fender Deluxe VM
A good multi-fx pedal can sound as good as the single pedals if you really pay for it.

It costs a bunch for a collection of single pedals so it should cost a bunch for a top shelf multi-fx pedal.

I paid $375 for my Roger Linn Adrenalinn III which is a beat-synced multi-fx-amp modeling-drum box and it offered a lot of inspirations for tones. With the addition of the midi controller board will I be able to unleash the vast possiblities of this unit. I'm dying to find out.

I would recommend a multi-fx pedal for the sake of explorations and experimentations. Expand your musical pallette.