I have the Melda and the PSP plug-ins, and an H&K Rotosphere and Pigtronix Rototron, and I like them all, but for guitar I still use an old Vibratone, I just haven't found a plug-in or pedal that sounds quite as good.
For keys I really like the PSP plug-ins, for insane effects the Melda plug-in can do wonders.
But I have yet to find a reason to put my Vibratone up on eBay