I have a Console One and it is a brilliantly executed idea built for one specific purpose, which is to to facilitate ITB mixing as if you were mixing on a real console. You cannot think of it as a DAW controller, and although you can use it in Mackie emulation mode, that would be counter productive. It should be thought of as a plug in controller, but even that is not accurate, as it only controls the channel strip. You can't even use it to control other effects like the Softube TSAR reverb, only Softube EQs and compressors.
Personally I don't find the lack of plug in support an issue at all. In addition to the default SSL SL4000 I have purchased the Active Passive pack and the FET compressor and this has really covered pretty much all bases for me. I will probably get the British Class A and the Drawmer 1973 next time it is on special, but I don't really need them. I can't really think of any third party plug ins I would want to use in the Console One channel strip. Certainly not the Pro Channel EQ, which is fine, but the SL4000 EQ is just fantastic. Maybe if you have an investment in UAD it would be another story, but if you are set up with a decent rig and can do all your processing in the box then why get locked into the UAD dongle drama? Certainly I have found myself to be much more productive with a few very high quality plug ins that I know really well, combined with a hardware controller that helps me to mix with my ears rather than my eyes.
The final point is the integration with Sonar. At the moment it will populate track numbers from Sonar to Console One, but not track names, which is a pain. I spent a considerable amount of time setting up a track template with all VST instruments and default track names manually, so this is not really an issue for me anymore.
It would be nice if Console One track changes were reflected in Sonar, so you can flip back and forward to adjust other channel effects, but to be honest if you are using it as designed for final mixing it is not really an issue. I thought it would be confusing working on Console One on one track while Sonar was on another, but as long as you are using Console One for the complete channel strip it really does not matter what is happening in Sonar. The Console One plug in controls soloing, muting, panning and gating, so I just don't touch those in Sonar anymore.
To sum up, if you are looking for a DAW controller to replace the VS700 look elsewhere. This is not the controller you are looking for. You can still use the VS700 with Console One, I currently still use a VS100 as a control surface in conjunction with the Console One, particularly when tracking.
Also if you are really attached to existing channel strip plug ins, compressors or EQs from other vendors then Console One is probably not ideal. You cannot insert your other plug ins in the strip, so you can only place them before the Console One Plug in, so not really an ideal scenario but might work depending on what sounds you are trying to achieve.
If you want the benefits of the Console One workflow you really need to embrace the Softube plug ins. But believe me, that is not really any limitation at all :)
Thanks,
Dean