I guess modeling amps work for those who know how to use them. Unfortunately I hear a lot that are just awful. Like a kid that got the box of crayons with 300 colors and wants to use them all.
I was talking with a friend about this last night - a lot of people buy modelers and expect them to sound great straight out of the box.
Most of them don't, and you need to decide what's useful and what's not and tweak from there.
I've found that certain amp models work really well with certain guitars and not so great with other guitars. That's why I limit my programming to what works well for the guitar I'm playing in a given situation (and which effects work well with that limited number of amp models) and disregard all the other bells and whistles.
And I pay pretty much zero attention to the presets - I look at them more as suggestions or demos of what the unit can do more than patches that are useful in a live situation.
And I still put my modeler through a tube amp, so I'm still clinging to old school gear in that respect. I firmly believe that a well-tuned modeler sounds worlds better through a good tube amp. Everyone's mileage may vary on that one.
- D