I actually sold the Axe FX II I had because we were thinking about moving down south and I wanted to have reserve cash. It was a stupid move because as soon as I sold it, the II's went out of stock, and the XL was anticipated, but there was no release date...and I immediately MISSED the Axe FX II! I then purchased a Line 6 tone port so that I could practice through my iPad for the time being. We ended up not moving, and so I looked at all my options; a real Mesa amp like I had previously had, Line 6 HD500, Digitech RP series, TC , Axe, etc. In the end, it came down to the fact that not only could the Axe FX II model practically any amp on the planet (and do it VERY well for that matter), but it could also do an endless array of effects, in any configuration, without having to physically make cables. For the price of the Axe FX, you cannot build a similar rig. I literally spent $10,000 on my last 'Petrucci' style rig that I sold before getting my first Axe FX II!
You absolutely cannot go wrong with the Axe FX II, and I would honestly say, unless you are looking for simple tones/effects, that it is the BEST money spent as a guitarist! I highly recommend the XL as it's a nice improvement on an already excellent product!