I have the pod xt live but like i said i don't use it that much..i don't know why, i just don't.
Pod is really good for noisy stuff ( fennesz for example ) but when you come to more "conventional music" i think it's pretty hard to get a really good sound through it, not impossible though.
And yes, most of the pre-set sounds are totally useless but i have one or two sounds that i really like and i use them sometimes.
Overall i think that we all here prefer the real amp sound, although some friends of mine prefer the Pod for some wild reason!