Traditionally, I'm a 'tube guy' who is use to two channels, a floorboard with fairly standard effects, and a volume knob. Inherent switching limitations of this setup aside, that's how I like it. So I didn't get my AX8 expecting that I would have a preset for every song or a bunch of effects in the chain. I still don't want it to be that way.
With my current band, I find myself using one preset 90% of the time. Within that preset, by using scenes and switching effects on and off, I can play 90% of our set list - clean to high gain (if push came to shove, I could play the entire setlist with this this one preset). I do set up a couple of additional presets with different amps that I use as needed to better fit the songs we're playing. With some familiarity with my AX8 features, my already cemented sensibilities and my trusty volume knob I can get A LOT of versatility out of that one preset.
IMO, the only limitation someone might run into with regard to transitioning from the FXII to the AX8 is learning how to run a little leaner in the presets. Whether or not this is a hardship for the individual depends on how many effects they really need to run in any given preset. I've had this conversation with a friend who has the AxFXII and he agrees that the AX8 probably doesn't have enough CPU for what he needs (He's a U2 purist) - Fair enough. I get it.
Other than these CPU limitations, if you aren't afraid of a small learning curve and adjustment to controlling it a little differently, I think you could be very happy, especially when it comes to dragging less gear to gigs and rehearsal.
And I've done plenty of direct recording with my AX8, as described above. It works quite well. fwiw
