I don't wanna convert anyone, just bring across what I am going through at the moment. I've been more into amps than guitars in the past, and I was always hunting (yeah it's my name) for that great tone. Actually the list of amps I owned in my >20 years playing is quite long:
Hughes & Kettner ATS Combo
Mesa Caliber 50+
Peavey 5150 (first series)
Rivera Knucklehead 100
Soldano Atomic 16
Engl Screamer
THD Univalve
Bogner Shiva
Orange TT
Diezel Einstein
VHT Pitbull 50/ST
Marshall Vintage Modern
Budda Superdrive 30
Each of them was great, but none of them had more than ONE GREAT sound. They might be channel switchers, but in the end all the amps seem to have one highlight tone, and then some mediocre ones.
Now I have the Axe, played it through the Bogner, a Carvin poweramp and now the VHT2502.
With the Axe FX I feel I have a base where I can tweak far more and don't need new amps to have new sounds. I can go through a guitar rig, or I can go direct, which is giving even more flexibility, as direct you have bigger influence on the sound (let's say the VHT Poweramp and Bogner 4x12 give everything their own flavour).
Who knows, I might be going back to amps, but right now after a few months with the Axe (oh almost 1 year) I still feel I haven't scratched the surface yet. I will be getting a quality coax active monitor (FBT Verve 12MA) next week, and who knows, maybe this will be the way to go - have my own controlled stage monitor which gives me wide spread coverage on stage and for FOH go direct with full control on amps, FX and cabs all at the switch of one button on my controller.
Especially live, you won't get more than a fraction of your amp's sound (unless you're Joe Bonamassa and they take real good care of you), and I believe direct will give me better results than I used to have with my mic'ed rigs in the past (plus I will hear myself better as my sound on stage is not concentrated on 3 square meters in front of the 4x12). Will be playing some festival shows this summer, where I'll be tought right or wrong. Let's see.