Compression
is an automatic level control often used in recording
to make instruments and vocals louder or softer in
order to emphasize or de-emphasize them. It's used
with a guitar to increase sustain.
Reverb
creates the effect of the multiple sound reflections
that would naturally be produced in a playing
environment.
Tremolo
modulates the signal, similarly to turning the volume
rapidly up and down.
Delay
is an echo effect that samples a sound and then
replays it one or more times.
Equalisers
and Speaker Simulators
These effects can be used on their own, to tailor
solo or rhythm sounds, or with overdrives to give
more control than you usually have with the overdrive
tone control. For example, you could use heavy
distortion, and use equalisation here to cut middle
for a heavy sound, or tailor the highs for a creamy,
yet "bitey" Santana sound, etc.
Speaker
Simulators:
A typical guitar speaker cab isn't designed to
faithfully reproduce the sound presented by the
amplifier. Unlike hi-fi systems and front of house
systems that strive for a wide bandwidth and
uncoloured sound, guitar speaker cabs are an
important part of the sound creation process. Without
a speaker simulator, you're likely to get the best
guitar sound through front of house by using one or
more microphones around your guitar amp. The quality
of speaker simulators varies enormously. I've heard
some which seem to strangle the sound, while others
enhance the sound, even when used in conjunction with
real guitar speakers. Common options are choice of
cabinet type and speakers, closed or open back,
microphone types and positions, and a mix of direct
vs simulator.
Speaker simulators are
mostly preset, and highly tailored equalisers to
emulate speaker cab resonances, and microphone
techniques. Some include other subtle effects, such
as short delays, as well. Placement is not as crucial
as you might think. For example, most recorded sounds
use a microphone in front of a speaker cab, then
studio effects, such as equalisation, chorus, delay,
etc applied afterwards.
On the other hand,
when you play live, and are using a variety of
effects through a stage power amp and speaker cab,
you might want to use the simulator here only for the
purpose of feeding the mixing desk (who apply their
own delay and reverb for the front mix). You could
bypass the simulator on stage, and apply just enough
delay/reverb to give a natural on-stage sound.