I have just purchased a Line-6 UX1 interface to allow recording of electric guitar (this was a late birthday present!). The UX1 is a USB interface with inputs for guitar, microphone and line level (for keyboards etc.).
The interface comes with the POD Farm software which is basically an implementation of the POD modelling software running on the PC. POD Farm gives all of the usual Line-6 implementations of virtual amps, cabinets, speakers and stomp boxes provided by the hardware POD family.
So far I have not done any serious recording with the UX1 but I have auditioned some of the sounds and, to my ears at least, they are very good. It more interesting to practice when playing through a (virtual) Marshall stack than through my crappy practice amp 🙂