I'm looking at either a Line 6 POD live or a Digitech RP500, I was wondering which one do you think is better? Or should I just buy some stompboxes, which ones (I'd need at least distortion/overdrive, delay, wah...)

So tell me what you think, thanks
Pros of stompboxes are that they tend to be a better individual effect than the one you find in a multi - unit. However, the downsides is the cost is usually considerably more with individual stomp boxes.

I would just get 2 or 3 good stomp boxes. Most of the stuff on the multi fx unit you wouldnt use anyway.
i say stomp boxes just because they can be controlled individually which makes it easier, but its moer expensive that way
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Stomp boxes will end up being more expensive if you like a large range of effects. But usually they sound better and are more configurable (in my opinion).

Maybe you should buy a distortion pedal (stompbox) and then something like the boss me-50 for the effects like wah, delay phaser e.t.c.

Its about £150.
get the RP500 and a distortion box.

the distortions on the multi FX sound mostly cheesy(and the RP500 sounds good but its no exception) and use the RP for chorus, wah, flanger, etc. its very configurable.