Tone2 has released FilterBank2, a multi-functional VST effect plug-in for Windows that they claim "replaces a rack full of hardware".

Features:

• 2 filters: 54 filter types.
• Distortion: 12 distortion types.
• Delay: 20 delay types.
• 2 LFOs: 11 BPM synchronized LFO types.
• 136 presets.
• Step sequencer.
• Envelope follower.
• Autosync to BPM.
• MIDI learn.
• Smooth knob movements.
• Tooltips and help functions.
• Realtime frequency display.
• Feedback limiting.
• Oversampling.
• Modular routing.
• 22, 44, 48 or 96 kHz sample rate support.
• Input mono/stereo > Output stereo.

FilterBank2 is available for an introductory price of $59 (full price to be announced); a demo version is available.