I am quite happy with my pod. The possibilities are endless. And if you really spend the time to dial in your sound... like really spend the time... you can fool the sharpest of ears.
I play primarily punk rock only and i'm more of a bass player then i am anything else, so i like to dial in my guitar tones, get them sounding as perfect as possible and then give it the slightest imperfection. add a hair more room to the sound, or dry it up, move my virtual mic... whatever.
i think they are great.
I like micing an amp, and you'll never replace the natural sound of that but in all honesty we are in a homerecording forum, and for those of us that don't have homes and live in apartment complexes, with a crazy relative or in mom and dad's basement... amp sims are handy for getting that cranked to 11 sound at 4 in the morning with out sacrificing too much quality.