The developer of the Console Emulation (Overload) said it was modeled on the summing aspect of a console. Not the console as a whole. That's one of the reasons I put it last on the tracks, and on busses. On the master, I put it after EQ etc, but before any limiter etc.
As for the idea that it just "hops up the highs" or adds "Crappy digital distortion" - I don't hear, or see this.
A lot depends on how you use it. If you crank everything up, then it will not be pleasant. You may well get some of these symptoms. The idea is to use it subtly. I, and others, have found gain staging very important. Craig Anderton pointed out that if any of the modules are clipping, the console emulations will make it worse.
And be sparing of the drive and trim knobs. The drive knob effects how much of the signal goes into saturation, and the trim knob is not like an input trim, it effects how much the emulation is applied to the signal.
Turn everything up to eleven and it may sound pants. I don't think half an hour is enough time to truly evaluate it. I've been playing around with it for weeks, and am only just getting to know it.