I have been very pleased where DSP effects have taken me.
how ever the one that is still elusive is the tube. the mic pres tube pre amps.
they haven't yet nailed that yet. but even over the past 2 years we are seeing things I never thought I would ever see.
Bias FX and Bias Amp. those plug ins for guitar are amazing and really kicked it up a notch for me in the re amp, guitar sims world.
what used to be an SM57 mic'ing a marshall now is very close to Bias Amp.
typically now I mix and match with both. (marshall, Peavey 6505+, Vox and mixed with amp sims gives a full thick sound.
so I still rely on hardware as well. using mic pre amps, guitar amps, rackmount compression in the recording stages to tame gain fluctuation.