this isn't less than $200, but I think the ROLAND GR-55 costs FAR less than the sum of its features:

1) it includes all the great Roland synth sounds

2) It has all the COSM stuff... that's the equivalent of bringing all the classic guitar, bass, amp and speaker combinations ever made along on your gigs or recording sessions

3) It includes the equivalent of EVERY BOSS effects pedal, (except in this environment they're all MIDI controllable!)

4) It contains a looper

5)It provides a way to play backing tracks from a USB drive without lugging a PC around

6) it has a tuner built in

7) it has a whammy pedal/expression pedal/MIDI expression pedal/Volume pedal (totally programmable)

all this and more for less than the price of just one of the guitars it models.

And of course, the synth patches put the sound of just about every instrument in your power. That's a huge bang for the buck... and all of those features are Roland pro quality