I'm looking into buying a boss me-50. I noticed that it doesn't have a digital output. If I wanted to record onto my computer with it, what would I need?

Also, what cable would I need to plug my ipod into it?

I only really want to spent about £20 on getting these, but I'm guessing recording equipment alone is going to be more than that?

I'm also open to suggestions to other multi-effects. The only other one I've seriously considered is that vox tonelab. The main problem with that was that it was very badly designed, and you couldn't use it for distortion and wah at the same time.

Here are the jacks of the me-50:

INPUT jack, GUITAR AMP jacks L (MONO) /R, AUX IN jack (Stereo Mini type), PHONES/LINE OUT jack, AC Adaptor jack.

For running into the PC you've got two choices....line in on your sound (card) I/O or USB. I haven't tried USB but it's supposed to be very easy to use. For USB you'll need a USB interface betwwen the guitar and PC USB Port which I've seen as low as $45.00 CDN. For Sound card you'll need a cable to mate to your ME-50 line out to the Line in (mini-phone jack) on your PC. For your IPOD to ME-50 you'd need Stereo mini to stereo mini.
A word about recording from multi-effects units, they won't sound like a mic'ed amp unless they have a speaker emulator built in.
Moving on.....
the cables you would need for that are two guitar cables for the input and output (three if you to want to bi-amp with the stereo output). for the aux in, i'm assuming by 'stereo mini type' you mean RCA type, like the back of a tv, except for two cables, not three. for that, you'll want a cable with male 1/8th inch on once side, and stereo RCA on the other. that will let you plug in your ipod. i dont know about recording to your computer, since i dont know what kind you have. that might help a bit.
and the line out jack, is that the same size as a guitar cable output? if so, you'll need a male 1/4th inch to female 1/8th inch adapter.
Fender 72' Deluxe Tele
Schecter Damian Elite 7
Fender '62 Reissue Jazz Bass (MIJ)
Peavey XXX 212 (back on the East Coast)

Macbook Pro 15" Retina
Logic Pro X 10.0.7
Revalver 4
LePou Amp Sims
Ignite Amp Sims
RedWirez Impulses
Some recording software has good amp emulation. I have Adobe Audition 3 and it does a good job at that.