Hey guys, I got my AxeFX Standard last week and I haven't played this much guitar in a long time. It's a great piece of gear. It's not as easy to set up as a real tube amp, but once you get the hang of it it becomes easier and much more intuitive. I have owned a Crate BV120HB, Crate BV150HB, Mesa Mark IV, Line 6 Flextone, Mesa Dual Rectifier, Peavey 5150, Randall RM100, and some shit amps not worth mentioning. The AxeFX can pretty much cover any of those tones and maybe even does them better. I'm currently running the AxeFX Standard into the effects return of a Crate BV120HB and then into a Mesa 4x12 oversize cab. The cleans on this unit are as good as it gets. The distortion tones are trickier, because you have to play around with them a bit to get them to sound the same as the real thing, most importantly the damping and sag features. I don't like 90% of the stock presets because they use a lot of reverb and effects and they just don't sound right to me. I'm more of a "less is more" person when it comes to effects. I made a couple of my own presets and they sound great. I haven't had a chance to record anything yet but I will soon. The tube tone and saturation is there, I don't know if it's mostly because I'm running through a tube power amp, but playing through my setup would be indiscernible from a real tube preamp and power amp setup. So does it live up to the hype? To me it does. I can see why a lot of pro guitarists are switching to the AxeFx and I wouldn't be surprised if in five years a lot of studios have one in their rack.