Re: Most overrated pedal or type of pedal
I disagree with this because of one aspect.
Traditionally, adopting a MultiFx environment makes you beholden to ONE manufacturers FX styles and ecosystem -which suffers from the same problem as tracking, mixing and mastering at the same location.
Give me a robust FX developer tool kit for designers to develop into an open source Multifx hardware platform/environment and your argument is perfect -like I believe Mod Duo is trying to grow
-but until some platform grows robust and diverse at professional level and all the best designers jump in, Stomp Box Pedals are the perfect way for remaining sonically agile and flexible and cater to individual tastes and design creativity across the entire FX industry.
How much of a problem is this in practice, though? It is true that such units are largely created by one company (even though production of the algorithms may well be decentralized), but I as far as I can tell, the quality generally seems to be high, certainly high enough that it will be more than sufficient for live playing. I guess it depends on to what extent you are willing to accept "good enough" for practicality. That said, for the more typical effect I will stick my head out and say that the basic algorithms were already there 30 years ago, and that, at the end of the day, there is very little that is you are likely to want that a high-end multi-fx can't do. If this were not the case, I suspect you'd see a lot more Helix and Axe-FX users with pedalboards.
There are exceptions, however, so I have some sympathy for your position. I have two multifx units, a TC Electronics G-System and a Line 6 HX Effects – both professional-level units, but from different generations. They sound very differently (I think the G-System sounds better, but it can be somewhat finicky to implement in a new rig), but I can only think of one effect that it doesn't do well enough, namely dimension chorus: The TC does not offer this at all; the Line 6 has a last-generation sound that isn't quite there. This is a niche effect, though, and the implementation in the (admittedly more expensive) Axe-FX III sounds marvelous in every clip I have found. For now, I put my DC-2W at the end on the rig, which is not ideal, as I prefer to keep the effects off the stage, but as it is relatively subtle and voiced in a way that I can mostly keep it on at all times, it doesn't make that much of a difference.
What many people don't seem to think about is the sacrifices made using stomp boxes. From a sonic perspective you are basically locked with one range of pedals, one pedal order, and unless you are running some sort of switching system stereo and parallel-routing possibilities are most likely minimal; from a technical perspective you are locked to having your pedals on the front of the stage (again, unless you are using an advanced switcher) and to connect the pedals with cables that are prone to failure and a pain to troubleshoot. And, of course, to even approach the sonic agility and flexibility of a good multi-fx with stompboxes is likely to set you back several times their price. For myself, I moved on from stompboxes once I realized there was even another way to do things, and once the dimension chorus is improved I don't really think I will ever need them in my rig again. Your needs are likely to be different than mine (you certainly don't want a dimension chorus on at all times – that much I know!), so there might be more merit to keeping a stompbox-based rig despite the limitations, but it would honestly surprise me if many people's needs were specific enough that a modern multi-fx wouldn't get the job done and then some.
(For the record, I am aware that we have discussed this some times, and we are unlikely to reach an agreement, but I thought it was about time that I laid out my reasons as best I could, since mine definitely is the minority opinion on most forums.)
...never used them for gigging or even recording much. 
