Guitar Rig 5 is Native Instruments` flagship guitar processing plug-in, and it is truly one of the industry standards. `Guitar Rig 5 Player` is the free version of GR5, and while it has a limited feature set, the quality of the FX processing is undeniable.
GR5P is a modular, expandable plug-in. It comes with only one amp emulation (the `Jump` amp), but you can combine this with 17 different cabinets for a really wide variety of sounds. In addition, you have access to 13 different effects and modulators for yet more variation.
These effects are not just for guitars either, they could be extremely effective on a wide range of material. Included in the bundle is the `skreamer` distortion, a chorus/flanger, studio reverb, two different delays and a variety of EQs, filters and dynamic effects. For further sonic modulation, GR5P also gives you access to an LFO, an envelope shaper and two different sequencers.
There is an easy to use drag-and-drop interface, and the feature set is well thought out, including a metronome and a tuner. The plug-in comes with 50 presets that should give you a nice overview of what it is capable of.
Guitar Rig 5 Player comes in AAX, VST, AU and standalone versions. Both Mac and PC are supported in 32 and 64 bit.