Jeff Evans
I have found the Korg Wavestation plug-in matches the hardware and it can even be said it is slightly nicer. One reviewer made the same comment as well. It does sound amazing. I have just recently got the Korg M1 plugin and it also sounds terrific. They have made some modifications to it which actually can make it sound different to the hardware. Due to more advanced programming so on that front it could be said it has the potential to be better. Korg have done a killer job on their own synths here.
My understanding is that in the case of the Wavestation and M1, Korg simply ported the algorithms over from hardware to software, so the algorithms that generate the sounds are essentially identical. However, the software versions aren't limited by the quality of the D/A converters that were built into the keyboards, which probably accounts for why you think the plug-ins sound better - they actually do

.
But "better" is subjective. When I reviewed Waves' emulation of the Aural Exciter, I asked why they included a switch to introduce the noise of the original...seemed like part of the appeal of plug-ins is that you don't have to put up with that stuff. They said that in blind testing, without the noise some people said the emulation didn't sound "right" but couldn't explain why. When Waves switched in the noise, they then said the emulation sounded right. Go figure.
The other issue is the "My software emulation of the XYZ doesn't sound like the hardware version of the XYZ." However remember with analog circuitry,
my hardware XYZ probably doesn't sound exactly like
your hardware XYZ. When Line 6 models their amps, they get a bunch of the same amp and make a subjective call as to which one is
the one, because they all sound different.