Not seen the recent stuff, but I do have a couple of Variax guitars (and a bass).
I still use the bass for recording, but the guitars are gathering rust/dust.
It's actually the Variax experience that kinda led me to BKPs in the first place. I was continually struggling with the "Spank" (strat) model to get it to sound more like the sort of strat I like using. My wife bought me a strat because of this, I got ITs for it, I then foolishly joined this forum(!), and the rest is history... :lol: (I now own versions of most of the guitars I wasn't going to buy - the reason for getting the Variax in the first place!)
For home recording, if someone's on a tight budget, I'd still say that the Variax guitar modelling is excellent and effective. It does good imitations of a lot of guitars that you can't afford/justify.
I seem to remember the telecaster models felt especially accurate, but the strat modelled doesn't have a lot of bite. And you're right about the 12-string modelling - but it is asking quite a lot from a 6-string source though :lol:
However, even though it gives you reasonably authentic imitations for recording purposes, the minute you plug a real one of whatever you're modelling into an amp, then there's no way you're going to play the Variax version out of choice! :lol:
Like you say, the "real" things seem so much more alive and responsive. The real thing definitely feels better to play than a Variax model of the same thing. Many guitarists can probably hear the difference when someone else is playing (but that might be because the player responds better with the more organic vibe of a real guitar)... but I have found that non-guitarists really can't tell the difference unless you start pointing them in the right directions.
But, even though Variax modelling makes sound sense for someone needing to record lots of different guitar types, I wouldn't seriously recommend it to anyone who's going to the trouble of buying BKPs for their real guitars!