I was quite annoyed when I heard about the release of the HX Effects from Line-6, because I had just finished building my pedalboard and it had all of the features I wanted.
To make a long story short, the HX can do (and do very well) what 6 pedals of my old board did. Having them all in one unit is good for so many reasons - fewer cables, no need to get devices to talk to each other via midi...
I won't try to describe how good the individual effects sound, because that's very much down to personal taste. Suffice to say that to me, they sound just as good as the 'real thing'.
The user interface is absolutely amazing. It's so well designed, it's so intuitive, you'll have it figured out in no time at all. Much better than any device I've every tried. Everything seems to be right there and easy to adjust, despite how much there is going on.
The PC editor is absolutely amazing - it's very easy to create patches and presets on the board itself, but it's slightly more comfortable on the editor. The only downside is that you might get some noise if your HX is connected to your PC.
There are a few bugs that hopefully will be corrected by upcoming updates. But the updates are coming, and also easy to execute.
Some functions I'm yet to try - controlling the unit via midi (which can also be done via USB). This would be very useful for sequencing your effects in advance in a recording or live-looping situation, so that you don't need to worry about hitting the effects with your feet and can focus on performing.
This unit can do so much, and for many people it could replace their whole board.