What's good and what's pants?
What could I get in the region of £200 (first or second hand) that's giggable and doesn't sound completely bollocks?
Are those emulator jobs worth a look?
Modelling processors (POD etc) aren't really intended for live use, unless you're talking about the proper modelling amps (Vetta, Flextone etc), which are out of your budget range anyways...
For £200 you could pick up a half-decent Peavey, a half-decent-if-you-like-that-sort-of-thing Marshall Valvestate or somesuch... have a look round EBay...
Guitarists have it easy y'know, anything over 50w should be loud enough, you jammy gits.
The Marshall Valvestate range has been criticised hugely, but I don't think they sound too bad, if you plan to distort it heavily then all you really need to worry about is volume. I'd recommend ebay though, I got a huge Trace Elliot bass amp there for under £400 (and I can't seem to shut up about it...)
For a loud £200 type amp, youre best going for a solid state jobby.
Check out Laney TubeFusion amps, they are pretty good, good tone and good price.