Has anyone got one of these?

Essentially, I have a main music pc, and a general use pc. I want something (small) that will let me easily plug in a guitar and bass at the same time and give some half-decent tone through that second pc - is this a good option?

Yup. You'll need to buy the Metal Pack if you want good metal tones, but that thing can work wonders, and you can have multiple simultaneous inputs. I love mine, I'd never get rid of it.

yeah ive got one. i use it stacks and get some pretty awesome sounds out of it without the metal pack even. i use it for this and it sounds great i think: http://www.myspace.com/whiteveins

POD X3 or X3 Live if you want some of the best Line 6 makes. One of the best parts is the dual amp sim. You can create some amazing things running 2 clean amps both with different mod effects and delay settings in different intervals!