Dunno if Palmer has simulation.
I record direct. More out of necessity than preference.
I use an ADA Micrcab II. I was wary at first cuz the first time I played through one I thought they were a bit noisy. Turns out it musta been the system I was playing through. I'm very pleased with the results.
I can get the sound of my analog amp without have to tweak the holy bejesus out of some DSP driven pocket-sized POS (no offense to the POD or VAMP users, I just hate the littel things lol).
If getting your hands on an emulator is not possible, at least get a 1/3 octave EQ and put it between the DI box and the Channel input. Coming straight out of the amp, you're not gonna have frequencies in your mix that is heard thru the speakers. As stated above, the speakers are a vital part of the sound of a guitar when a guitarist is dialing in his sound.
Essentially, when recording guitar direct, it's going to take a few "test recordings" to get a sound that everyone is happy with and will mesh well in the mix.