They're reasonably accurate, and they have their uses, but I don't at all care for the lazy "I show up with this $1500 digital gizmo and that is my entire sound for the gig" trend we've seen lately. I think they work best if you don't try to give them too many layers to model, ie run through a real power amp and bass cab on stage. Air is what makes sound sound good. You take away all the air and the sound gets less good (unless you're going for certain specific types of sounds, or are using high end studio gear, etc...).
And there are great amps these days that way 15 pounds or less. Hardly a burden to carry to a gig. Get a nice 2x12 for another 45-50 pounds or so. NOW, you can add something like a helix in the fx loop, and use it for effects modeling, which it is much better at than amp modeling, and be able to have all sorts of different presets at the push of a button. That's definitely handy (although I really like my analog pedals like my Octabvre, Q_Tron, Compressore, Hoof Fuzz, etc...
And there are great amps these days that way 15 pounds or less. Hardly a burden to carry to a gig. Get a nice 2x12 for another 45-50 pounds or so. NOW, you can add something like a helix in the fx loop, and use it for effects modeling, which it is much better at than amp modeling, and be able to have all sorts of different presets at the push of a button. That's definitely handy (although I really like my analog pedals like my Octabvre, Q_Tron, Compressore, Hoof Fuzz, etc...
