P-10 includes five simultaneous effects: Distortion, Phaser, Chorus/Flanger, Delay, and Reverb. These can be used in any combination, and can be affect the entire instrument globally or can run as separate chains for each layer (wasn't "Separate Chains" a Journey record? Melissa Manchester?).
P-10 also includes some nifty effects modulation capabilities including an independent LFO and Mono-Mod routing section for key effects parameters, plus an independent Pressure-Mod section for controlling key effects parameters.