Impulse response, canned cabs and lots of choises!!

I'm going through some type of digital (sort of) revelation! I've been meaning to dig into this world before, but haven't really got around to it until now. Mainly because a good friend, Mikael Nord Andersson, really gave me all the details on HOW to actually do it! I did have all the equipment already, just needed some softwares and the almighty impolse responses.
So, what's it all about? Well, what I can do now is basically to run my amp heads through a THD Hotplate (a big resistor), straight into my MBox and use speaker simulation.
The speaker simulation is achieved through a digital reverb LAConvolver, TL Space etc. where I can load in an impulse response (which is basically a short wav-file of a recording of the characteristics of a certain speaker). I purchased the BigBox from RedWirez (really cheap!!), which contains in the neightbourhood of 40 000 different sound combinations to choose from!
The sound combiantions, based on real speaker cabs, features: Cab+speaker+mike+mike placement.
For instance - ONE of the sounds would be Marshall 1960's cab + upper right speaker + SM57 mike + 2" from the cone.
It DOES sound and react like a real speaker which is just great! This way I can record using my own amp and pedals and after I have recorded I have the possibility of changing cab if I want a diffent angle. I can also split the signal, record through two amps and use different speaker, such as one close SM57 and one distant Royer to get a nice blend of sounds.
I can also easily take the stuff with me to any studio with ProTools without having to bring the somewhat bulky 4x12 cab.
No latency, play with the sound, possibility to alter the speaker afterwards, record "quiet". A new world just opened!!