Cliff's recommendation for setting LF Resonance
Furthermore there are certain aspects that simply can't be modeled and require user intervention. For example, a speaker has a low-frequency resonance. A tube amp will create a higher output at that resonant frequency. The Axe-Fx has no way of knowing what that resonant frequency is and defaults to a value that is common for the speakers that are typically used with that amp. However, if you drive that speaker through a solid-state amp you won't excite the resonance unless you adjust the LF Resonant Frequency to match it.
This is the one of the few advanced parameters I ever adjust and I tweak it until I hear the bottom end "sympathize". For example, my favorite Mesa cab resonates around 110 Hz but most of the models default to 95 Hz so I usually adjust the LF Resonance to 110 Hz when using that cab. After I do that the Axe-Fx is indistinguishable from the real thing, IMHO.
The SRF parameter makes a difference in certain circumstances: medium-gain with lots of power amp breakup and high-gain into a traditional guitar cab.
For example, a Deluxe Reverb easily gets into power amp breakup with a Drive of 5.0. Play a G chord and listen to the low notes breaking up. Adjust the SRF and you'll hear the character change pretty dramatically. This applies to both FRFR and traditional speaker applications.
For high-gain amps into a traditional cab the SRF has a definite effect for palm-mutes and diad chugging. As you excite the resonant frequency the speaker excursion increases and you get much more punch. This even applies a bit to low and medium gain amps if you rely on that punch as part of your tone. Note, however, that the punch is rarely audible to the audience or captured during recording.
One way to find the SRF is to put a Filter block after the amp block. Set the type to Peaking, Q to 5 or so and Gain to 10 dB. Start with a Freq. of 50 Hz. Play some chugga-chugga and slowly adjust the Freq. until you hear and feel the cabinet resonate. Make a note of the frequency. Remove the filter block and set the amp block SRF to match. 4x12s typically have an SRF of between 80 and 120. Open back cabs are typically a bit lower.