When using the AxeFx it really goes to show you that it's different strokes for different folks on how you use it. I tried the powered monitor thing once. I got a couple JBL EON15 G2's and it sounded like total ass. I currently run the AxeFx through a Carvin TS-100 stereo tube power amp and two Marshall MC212 cabinets. IMO, this is what a guitar rig should sound like. HUGE, grind, crunch, chunk and fantastic cleans all in stereo. The tones I get are just as nice but more diverse than my JVM410 halfstack sitting covered up in the corner. However, for live use I do not use the cab emulation function on the AxeFx but I do use the tube emulation function. The only time I would consider using cab emulation would be for recording direct. I may or may not ever use it though in that situation. It's going to depend on how it sounds compared to a mic'd MC212 cab with a E906 mic. When I get some time I'm try that out.
I have no desire to chance another FRFR setup no matter what the hype on the boards is for whatever speaker. What I have now is "it" for me no question. Plus it's so nice that when setting up new patches I don't have to spend time adding in a cab sim and mic, because in a live situation in which I play most nobody cares. With the guitar coming through a great pair of Marshall cabs and the rest of the band sounding great and "in time" that's all people care about. Well, maybe with the exception of the liquor and the luvin that comes along with it.