I always try to use my multifx units like a simple amp and stomp box set up, so rather than have a bunch of presets I'll have 2-3 different amps (like DunedIn Dragon said).
The idea of having 8 stomp boxes available isn't (for me) about having 8 effects on - but it means I can have a cleanish amp and then the option of 2-3 different drive pedals, or chorus and flanger available. That's the big draw of the HD500 over previous units like the XTLive (or my most recent, a Fender Mustang). With them, it was one drive pedal per patch, so if you wanted a screamer and a rat you needed two patches. Not a big deal but if one day you decide you're not in love with your clean amp sound it's two patches to tweak (or 10, if you've got 10 versions with different effects in each).
Now, I'll be able to have, say just 3 presets (clean amp, gritty amp, rock amp) and a ton of stomp options to tailor to each song.
I play in a covers band doing soul, R&B and a bit of blues rock, so I don't need massively complicated tones - but variety is the spice of life, right?!