since I've spent most of my forum time ranting about the axe-edit software and it's limitations and bugs, i think I should say something nice for once:
YES, Lee2216: The axe-fx is the real frickin' deal. I have $$$$ worth of tube gear, pedals, etc..... I don't use them at all anymore.... I use a solid state Acoustic Image amp w/ built in reverb for jazz gigs, but other than that, I use axe for everything live to stage, direct, and for recording. It does work great for jazz, I just haven't made any useful patches for that yet.... plus it's one more thing to lug around to small restaurants, etc....
I think the Axe-fx is the wave of the future based on the fact that a. FINALLY something digital arrived that convinces you that you are hearing a tube amp and b. because it's digital, it can theoretically only get better as software and hardware continue to improve....