Holy crap! That's a Digitech GSP5! I owned one of those!
It was 1992 and I was playing in a metal band. We weren't very good, but we had dreams and a lot of passion. I had a cheap Peavey Bandit amp and some second hand or borrowed pedals. One day I saw one of these at a pawn shop for $250. I knew I must have it, so I put it on layaway and for the next couple of months saved up with my $3.50/hour dishwashing job.
It was a digital fizzbox. Cheesy distortion and speaker simulation, but acceptable time based effects from what I remember. It was difficult to program, basically useless without the manual. I remember listening to this digital fizz that would come as the delays decayed out. This was probably due to cheap, low end DSPs. Oh, and the unit was noisy as hell and had no built in noise gate.
Compared to our other guitarist's GSP-21, it was night and day. Basically like comparing a POD to an AxeFX. I chuckle when I see this ad imply it could be a complete rig replacement. Um, not quite
I wound up selling it a few years later, but at the time my 20 y/o self thought it was like Christmas come early when I pulled it out of layaway.
In the end, it didn't make the band sound any better :-(