If you're looking for something new and half way decent you're looking at a couple hundred at least. There are older models out there. Go to ebay and do a search. I know Yammi, Boss, and even Zoom have some good older models. As far as doing arpeggios..., man good luck! It takes a lot of practice to program those things. When you get the hang of it though there's a lot you can do. I know a guy who can program in his sleep when it comes to arpeggios. He uses them for guitar grooves, drum grooves, and other things. He's also a stubborn little bastard too. I asked him to show me how he does it and he hoards it all for himself I don't know why, but he want share his techniques.

Squeak