laxu
Fractal Fanatic
Plugins have a good chunk higher latency than playing with a hardware modeler. It has a noticeable impact on feel, even if it's not exactly a dealbreaker these days.Well, many people on this forum, have Axe Fx with only studio monitors, they could've gone with plugins and save lots of money.
Its inconvenient as it depends on the computer.
There's a lot of good plugins out there. Line6 Helix Native is great but pricy unless bought together with Helix hardware. NeuralDSP plugins are good if you are after fairly specific things. ML Sound Lab offers good plugins too, IMO their MIKKO cab sim plugin is the yardstick for "movable mics on a virtual speaker" cab sims.
There's no real right or wrong here.