I have a love/hate relationship with IR's. They sound so good in theory. From time to time I'll try it and like it for a while, but ultimately decide that my direct tone is better/punchier. Granted, I don't do studio work at the moment, where I think they would shine brightest. I'm mostly just playing in churches and locally. So there is a lot of functionality/tweakability to IR's that I will never access or need. The main benefit for me is making dirt/overdrive pedals sound better without an amp.
A few years back I tried a DSM OCSD (not an IR, I realize, but a cab sim of sorts). LOVED it at first, but ultimately just felt like it muddied my sound after a while and got rid of it. Last year I tried the Shift Line Cab Zone LE, and later the X. Some of the IR's sounded really good, and it made headphone jamming fun. But after some time I again decided that I was better off just patching my direct tone to the board and/or amp. I felt like I was losing something with the IR.
Now I have a Two Notes Torpedo M+ on the way eventually (pre-ordered). I don't know why I keep doing it to myself. But what I've heard online I kind of like. We'll see if that translates into any live functionality/usability, or if it remains relegated to more of a novelty act for me.
Part of the problem for me is preferring to keep things simple. I don't have the time/patience to be tweaking a ton of parameters on the computer to find a great tone. That's largely why I prefer analog pedals over digital. The Shift Line was DEAD simple. Just 2-3 knobs. Stick your favorite IR's in there and off you go. But in some respects it was not tweakable enough to keep me happy, and I ultimately liked my direct tone better in the end. And going into a computer and using something like Audacity to tweak or combine IR's is just more work and time than I'm willing to put in. And with the SL you had to either upload IR's onto an SD card or plug it into your computer to load IR's (depending on the model). I spent so much time finding, downloading, tweaking, uploading and switching between IR's that it just wasn't fun anymore.
I'm hoping the Two Notes combines the tweakability that would be necessary to make it sound good with minimal effort - no more no less, unless you want it - and actually sounds good enough to keep me interested. I will definitely want to upload some of the IR's I have acquired over the past year or so, so I'm hoping that's a simple process. The main reason why I wanted a cab sim (again) was because I was tired of spending all of this time dialing in tone(s) on my pedalboard/IEM rig, only to have it sound so different when I plug it into an actual amp, and then have to tweak everything all over again. I want a more consistent tone from headphones to FOH, but nothing too drastic. And I love the punch of a 4x10 cabinet, which I can't get through headphones. Plus, there's nothing wrong with the occasional B15 cab sim just for fun.
In the meantime, using the Broughton SVPre combined with the RFE, which is a cab sim-ish EQ filter pedal, has me quite pleased. The Two Notes will be hard pressed to prove itself more useful than that. We'll see.