I personally don't like FRFR. I need the "amp in the room" feel. I guess I'm an old dog that doesn't learn new tricks. I like guitar cabs and their limited frequency range.
All well and good, but as soon as you stick a mic in front of that cab, either to record it, or to mic it for the venue's PA system, it suddenly sounds like a FRFR speaker. Not to say FRFR is "better", but at least the tone you dial in for your own monitoring is also the tone (or darn close at least) to how an audience, or people listening to a recording hear your guitar.
I used to love my tone during rehearsal but then would go into the studio and would hate it. I wanted it to sound like it did standing in front of my 4x12, but that just isn't possible with a mic'd cab. I've come to embrace FRFR now (with cab models) but now my tone, good or bad, really translates to every way someone might hear it.
Its still not as great as standing in from of my old Marshall 1970's 4x12 with large checkerboard grill and vintage 4x12's, BUT, at least any time I spend tweaking now will still hold up on other systems, which is nice, because now I feel like my tone, is always "my tone" and I don't have to worry about getting to the venue and not sounding right, or wondering if the audience is hearing me differently than I do on stage (not that they probably care aways, but you get the idea)
There is a lot to be said for FRFR