You have been offered an excellent solution. Take a direct signal and try it both ways. But- there is a third option, which, as near as I can tell, I am about the only person who uses. I start the same way as Bristol Posse, with a direct signal. Then I send it to whatever amp or amps are available and mic them up. Then I send a direct signal to a modeler, deactivate the cab model (live mode). I send the modeled signal to a clean power amp, the type that would normally be used for driving monitors. (I use a Carver PM125). Then the signal goes to a broad-spectrum speaker or speaker array, such as passive reference monitors, a wedge monitor, or even a PA column. In some cases, I actually send the line out from the modeler to a powered reference monitor. Then I mic up the monitor with a good mic. I usually use condensers for that, rather than the dynamics I stick on a cranked up cab.
Of course, this lengthens the signal chain, but with a series of steps that produce damned little noise. Compared to the noise generated by most guitar amps, a modeler into a reference monitor, then to a Neumann KM184, then to an Avalon AD2022 produces negligible noise. So what does this do for me? It moves air, creates some room reflection, and allows me to get the sound of an overdriven amp at a far lower volume, and doesn't mess with the amp model by adding a lot of color.
Your question has been asked a bizzillion times, and is always based on an incorrect assumption- that using a modeler necessarily means going direct. It isn't modeler vs. mic'ing an amp. Once you have an unprocessed signal, you can do lots of things with it. There isn't a blessed reason you can't use a modeler and then send the modeled signal to an amp and mic it up. As long as you use a wicked clean amp, a broad spectrum speaker, and a good flat mic, this system greatly improves the level of accuracy of the model. The modeler can copy the frequency signature of the amp a lot better than it can simulate moving air hitting a mic diaphragm, and the effect of the room. And- if it doesn't work put for you, you can still re-amp and mic it up, or send it to the modeler, engage the cab models and try to create a decent direct track.-Richie