Oh, dead set serious, there are a few who would take the $500 option to save on hassles with sound crew. You only mentioned it in passing.
The price difference to the high end is of a similar magnitude to Akgp2 vs PR40. I wouldn't expect the performance gap to be so close but here's your chance to make a sale.
I don't own anything by 2 Notes, so let me start there. But I do understand what it does and the ways it can be implemented. The $549 C.A.B version is a stomp box style cabinet emulator/IR loader.
Everything is covered in the manual PDF:
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The easiest thing to do would be take a post pre-amp line out of your bass head and then simply find one of the bass cabinet presets and see if any float your boat. What are the chances there? So, if you need to edit, you can change to a different bass cabinet IR, change mic, mic location, EQ, futz with the power amp modeling, etc. Chasing it further down the rabbit hole would be to use the IR blender software, which allows you get really, really complex with custom IR creations, using multiple IRs, loading custom IRs, or capturing your own stuff. If you like the mix of a 2x10 with a 1x15 cabinet, this is where that magic happens....however...
This is where most players get turned off b/c it enters the realm of engineering, and can be extremely time consuming stuff unless you know exactly what you are looking for. But this advanced feature set is there. For the engineers out there, it is GOLD. If you have very specific ideas about your cabinet IR, or want to do a lot of customizing, then there are learning curve issues. But again, that said, there are those out there who can perform absolute magic by knowing what combinations of speaker, mic, and distance can yield a stellar result.
One disappointment of the C.A.B is that it provides no XLR out built into the unit - only 1/4" line out - so you would either need a 1/4" to XLR adapter (hope your console has healthy input padding), or you're back out to a direct box. In addition, if you were to use this after your stomps, but before your stage amp, you would need a 100% dry split off the box before your amp so that emulated out ---> FOH and dry out ----> stage amp. So, I don't think they've fully got this sussed out for the various ways it would be used live. It seems to only want to go directly to a 1/4" input recording interface, or perhaps an IEM or full range rig. I don't know.
I still see a gap in the market for something like this, geared for simplicity and live use, and at half the cost or less. Depending on what else surfaces for cab emulator/IR-loader hardware, I'm probably going to pick up the C.A.B to use for some live gigs...FWIW.