Triggered by RGs post (Studio Quad V2) where I suggested the GSP1101, and just for shits and giggles ( and since I had one of these in 2009) I hunted down a used GSP1101 incl a 1U SKB Rackbag on Yahoo Auctions for 85$.
This was Digitechs flagship guitar processor back then and some of Digitechs engineers kept an almost constant beta FW program running on MustBeBeta.com.
The lastest FW from there is C63 and it features quite some more amp and FX models than the original, vast improvements in all algorithms (especially Whammy and Harmonizer) as well as the capability to upload up to 10 user IRs. The factory IRs where "ok" when it was new but you can now upload the lates Ownhammer, Redwirez, ValhallIR, ML-Sound,.... IRs and take this "old" bad boy to another level.
Dubbed "the poor man's-" or "the working man's AxeFX" is neither an over nor an understatement. The GSP1101 has a relatively open FX chain, as you can assign the blocks pre or post (Pre)amp. It has 2 (L/R) 1/4" Outs as well as 2 XLR Outs that are independently congifurable, meaning you can e.g. select the 1/4" outs for amp input/loop return without IR and the XLR outs for direct FOH with IR.
The open structure also allows (and was specifically designed for) integration of an external preamp in various hook-up configurations.
FX wise there's all in there you could want. Gate, Compressor, OD/DS, all kinds of Modulation, Delays, Reverb (courtesy of Lexicon since Digitech and Lexicon are part of Harman).
Compared to the Axe it definitely lacks the "granularity" in terms of feature/parameter depth and thus the 500% detail in the finished sound product. But at the end of the day where talking tools to make music and have fun and not the 13th row of overtones.
My approach has progressed to dialing in a sound with my ears rather than with my eyes. So with gear my ultimate question is always "can I make this thing sound to feel comfy and be happy with what comes out". Amp-tone wise my comfort zone is in the Mesa Boogie Mark type, with the MkIV being my personal favorite amp of all time. with the tools the GSP1101 provides (with C63) I can get there hands down. Sparkling Clean, crushing Crunch and singing creamy Leads.
My preferred IRs (atm) are ValhallIR's take on a 1992 Mesa Boogie Straight 4x12 loaded with 70w Celestion V30s (
https://valhallir.at/en/shop/mb-1992-v30/)
Same as for RG, footprint and transportability is a big factor and issue for me. I live in Tokyo and gig out on a weekly basis. There is no chance in this city to roll up with your van and lug the 10U fridge rack around. Mostly because of limited parking spaces near the venues. There's some parking spots throughout the city but I'm definitely not paying 20$ per hour (which is the going rate).
99% of the musicians I gig with use public transportation (Tokyo Metro) with is inexpensive, more than reliable and gets you to every place in the city with an average delay of 15s.
The GSP1101 comes in very handy for this application, especially in the 1U SKB RackBag. The Rackbag is sturdy and offers enough place to store als cabling in the back as well as sufficient space to bring a small Midi board and a Wah (Digitech Control 7 and a Jim Dunlop spring-loaded CryBaby 95Q in my case).
So I'm down do a small lightweight rackbag (the 1101 itself weighs next to nothing) and a guitar gigbag for a maximum of independence in transport with a minimum of footprint/weight.