I am planning to buy a guitar processor.. which one is better.. Boss GT8 or ME-50.. need some suggestion.. or if you have anything else let me know... and also can you guys find me the thread where one guy found some software that has all the effects, processor and amps.... really appreciate it ..

Between those 2, I'd recommend definitely gt8. It has more knobs and features so it can take a while to tweak the sound you like.Are u going to use them with an amp or power amp+cab setting?
Regarding the software, there are many choices; you'll need an audio interface to connect the guitar and be able to hear it with no latency(delay). You need to learn about them and know what is the best. The easiest solution is go for line 6's POD. Then you can use it with their software (Gearbox and Pod Farm-they come with the device and needs download) with your computer for late night jamming or to record. But then you can also use it with regular amps. So you might NOT need the boss gt after all. Pod is jack of all trade and you probably you won't need anything beside pod if you're a beginner.
http://www.line6.com/products/pod/
Good Luck

I think you might be talking about this thread.
http://www.sajha.com/sajha/html/openThread.cfm?threadid=63901

thankz bob marley.. that's the thread i was looking for..

and i will be using the pedals with just the amps.. really confused which one to get ME ot GT.. will definetely go for the GT now... thankz again for the reply

Hey Guys, I have Guitar Rig V. 2 (full). let me know If I can be any help.

thankz ritthe.. if i need the serial key.. then i will holla at you..