There are only a few things that would make me consider installing Windows on my Macbook, and this is one of them. It’s an open source effects pedal for guitars, called Coyote 1. It’s made by a company called OpenStomp and sells for 350 bucks. I have yet to hear what his sounds like, so I don’t know if it’s worth the price or not.
The Coyote-1 will let you create custom audio effects (distortion, echo, chorus, etc.), to mix into what they call “patches”. You can then trade those patches with other users online. Here is the sad part; the software you use to make the effects is Windows only. Other than that, it looks intuitive to use since it has a nice graphic interface.
Since its open source you are allowed to hack it and encouraged to open it up, to create custom solutions. The hardware and software are fully documented, so figuring things out should be easy. I bet in a few months a Mac user will have this ported over to OSX.
I mostly play bass, so before I drop my $350, I am going to wait and see if they come out with a bass version. The last time I tried to play my bass out of something that was made for a guitar I blew it up (oops).