I have a couple of questions about the RP500 before I buy it.
1. Does X-Edit and Cubase come with it?
2. How many presets does it have?
3. Do the amp simulators have clean and distortion channels for each amp?
4. Does it sound more digital or real?
5. Is it versatile for all types of music?
6. Will the Whammy or the Octaver give me a bass sound?
7. Is it worth buying if $300 is your limit?

Thank you. If you know answers to only some questions please answer them. If you know the answer to them all then please answer them all.
1. Comes with both
2. 200 I believe--100 factory presets and 100 user.
3. You can adjust parameters on each amp. There's one 'preset' setting for each amp
4. Not bad as far as digital modelers go. Not gonna give you amazing tone, but its good for what it is.
5. Yes. Very versatile.
6. You can get a bass sound out of it, don't think the quality is great though.
7. Your choice. I'd probably buy it used if possible.
Fender Tele
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Digitech RP250
Digitech Bad Monkey