I don't know how to say this without getting flamed. I think everyone here knows I'm a die hard Axe man. So I'll just go ahead and say it as a hope for improvement.
I spent three days this past week with my good friend's Strymon Lex in my Axe's loop doing extensive A/B testing. Between it and the Rotary in the II, there is honestly very little comparison. The Lex is just better. Of course, it does only the one. But man does it do it.
I'm hoping FAS continues to devote some time to upping the Rotary's algorithms.
Agreed, I have a lex. However, there is a cost for all this stuff. The strymon has an entire processor dedicated to doing just one effect. The axefx 2 has a powerfull processor but if it puts all it resources to make the rotary, delay, reverb, chorus, flanging, phasing, etc to the level of resources that the strymon puts out, we probably wouldn't be able but a couple of effects per patch.
Virtually all these improvement have a CPU cost.
Just something to keep in mind.