I've heard good things about amplitude but haven't personally tried it. A friend has the plug in and he was pretty syched about it, but he was still in honeymoon phase at that point.
As far as the OPs question, I use a micro-VR and good studio phones. The benefit of using an amp like the micro-VR instead of one of the smaller plug-ins (IMO) is that it's also an amp. Obvious I know, but having that little micro head around for any random rehearsals and other spontaneous events has been surprisingly beneficial. I didn't think I'd get much use out of it besides as a backup but it's a great little tool.
As far as the OPs question, I use a micro-VR and good studio phones. The benefit of using an amp like the micro-VR instead of one of the smaller plug-ins (IMO) is that it's also an amp. Obvious I know, but having that little micro head around for any random rehearsals and other spontaneous events has been surprisingly beneficial. I didn't think I'd get much use out of it besides as a backup but it's a great little tool.