There is a lot of debate about the internal effects board. I like it. It's not great but is versatile and internal and affordable for what you get. I travel and perform live. Its great not to have another piece of gear to lug around. Also, when you save a sample, sequence, song....the effect setting will be saved with the session. However, this opinion depends on what else you are working with. If you only have an mpc, you should probably get it, if you're working with pro-tools, there are better plug ins just more expensive and you need both pieces of gear to work.
Why do you need the eight outs. Again, what are doing and why, do you need it. If you're going to protools, I would recommend the digital out instead of the eight.