I own a virtualizer pro, the noise is there, but it's not unusable. My chief complaint is that it is kind of convoluted in it's control layout, tons of "soft knobs" that do different things depending on the effect, coherently labeling the knobs would be impossible. If you are going to set it and forget it, it might work. Set up is a bugger though, and the manual is best kept close by as it is not very intuitive. I have kept mine for a long time since it does quite a bit more than just reverb, and on rare occasions it is just the ticket. Usually for a lo fi sound or wackey effect on a fill or backing track.
The TC Electronic M350 sounds much better to me and is much easier to control. At last check they were under 200 dollars. Might be worth a look.