Emu XL-7 & MP-7 User's Group

hi, i'm new to this list and i just got my MP-7 a couple of days ago.
i was wondering, does anyone know what would be a good external 
effects processor to buy for my MP-7? i'm looking for one with a 
really good LO-FI type effect and one that also can memorize presets 
and accept preset change commands via MIDI.

also, i read the post on using LFO2 set to a square or pulse wave for 
creating the slicer effect, tried it out, and it seemed to work 
pretty good, but i was wondering if anyone knew of a way to create a 
really good LO-FI type effect as well (perhaps with some of the 
filters and some distorion or something). 

thanks,

-brian