Opinions are like assholes. We've all got one and here's mine.
I use the Rocktron Xpressions multi effects unit, $340, for all my time based effects. It does a lot more and doesn't have a preamp. This unit was initially recommended to me by someone at Mesa Boogie for its transparency and quality sound. Many people don't like rack gear but just stick it in a two space rack with a power conditioner for your rig and it's very easy to transport and setup. My rack is soft sided with a shoulder strap which makes it easy to carry my other crap.