(putting this observation in the amp thread, but it could also go in the pedal thread)
So I had my first experience tracking with one of the latest-version amp modelers yesterday - a Helix.
It's pretty easy to understand the appeal, I have to say. I had my pedalboard (that I spent a year plus $$$$ building and cutting my own perfect-length patch cables), plus an amp ($$$) plus a cabinet ($). Took several trips from the car to haul it in, and a bunch of cables, etc. My buddy comes in with a Helix (his entire rig) under his arm - one trip, obviously - and is plugged in and tracking overdubs in like 30 seconds or less...
And it sounded good. Pretty intuitive interface. I think if we played you a track and said, "pick out which of these guitars that was tracked using a modeler," I'm not sure you could do it.
I'm sure if you broke it down effect-by-effect a la "That Pedal Show," we'd probably agree that the phaser isn't *quite* as good as your favorite Phase90, the flanger doesn't *quite* have the same panache as an Electric Mistress, etc, etc.
But damn, it's light years easier than sourcing, building, and maintaining all that stuff, and I'll bet it gets you 90% of the way there with 3% of the effort. And this doesn't account for a decent ribbon mic (even a cheap Royer is $500) and a pre.
In fairness sake, we have to say that if you spent $800 for a vintage Electric Mistress, it's highly likely that in a decade you could sell it for double that. And that $1500 Helix is gonna be worth $100 in a decade.
But still...