Ok so I just bought THM and the Pro Q EQ. For anyone reading THM is definatly useful even if you don't play guitar. For $20 you get a whole bunch of effects (reverb, phaser, whawha, p.eq, distortions and mucho more) plus amps and so on. It's really fun mixing together different setups inside THM, you can get some really messed up (in a good way) sound from that lame flute track.
ProQ..have only tried it briefly. It's awesome to work on with a touch interface tho.