Does anyone have any opinions on this pedal? I saw an ad in a magazine for it, and it looks like a solid pedal. I reckon I'll ask for it for Christmas/B'day at the end of the year unless anyone thinks that I'd be better off getting another piece of equipment (and also, I'm saving for an amp as you can see in my sig).

I have it...I bought it for the digitech space station setting alone....which is amazing!!! if you are going to be using it as a wah... I suggest getting an actual wah pedal as the emulated wahs aren't that great and the sweep range is very short.
Well I was considering getting it as a distortion pedal that can do multiple distortions that has a wah there anyway; the wah is actually not the biggest requirement. Do you reckon there's something else I could get?
The ex-7 distortions are identical to the ones on the Distortion Factory, which is a much cheaper pedal. Digitech distortion pedals, generally speaking, are really great at doing a half-assed job of creating a ton of different sounds. The Bad Monkey is good, and the Hot Rod is okay, but those are the only ones I'd recommend from them.

I just checked and those EX-7s are $200 at musiciansfriend. They've got B stocks for only $100, which is a great deal, but they probably will sell out of those before Christmas time.

If you're looking for something in that $200 range, then the Visual Sound Jekyll & Hyde, the Maxon SD-9, or the MI Tube Zone are all nice pedals.

But really, you don't have an amp, and that's the most important thing for you to consider right now.
and you cant use the distortions on the EX-7 without the corresponding expression effect...for example the first distortion on it is a tube screamer...but it can't be used on its own...you have to use the crybaby modulation with it.....look into the Distortion Factory DF-7