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Aplitube 2 is an effects plug-in processor for digital audio recording. It emulates, remarkably well, a wide variety of guitar pre-amplifier and cabinet sounds along with quite a few stomp pedal effects and digital effects processes.
The idea is that you can basically build your own set-up without the need for spending thousands of dollars on expensive, bulky equipment. Amplitube retails somewhere between $300 - $400.
I'll give you the pros and cons:
Pros - It sounds fantastic. And with an assortment of interchangeable rigs, the possibilities are nearly endless. And anything you can tweak on your real set-up, can be tweaked in amplitube: bass, middle, treble, presence, gain, spring and/or digital reverb, distortion, chorus, modulators, compressor, decompressor, etc. You can even adjust the placement of the (imaginary) microphone and how much ambience to allow from the (imaginary) room. Amplitube also includes a few bass pre-amps and cabs as well.
Cons - Unfortunately there is simply no substitute for the real thing. While technically, the combinations and possibilities are limitless, digital effects can go only so far, no matter how brilliantly designed, in achieving what analog recording can achieve effortlessly. You may find yourself blown away, initially, by how unbelievably real it sounds. But you will eventually realize that it is likely because your expectations were low in the first place.
Besides that, my only other complaint is that the quality of the effects from the stomp pedals are a bit lacking and although there are 21 different stomp effects, most of them turn out to be a disappointment.
Conclusion - I recommend it as long as you understand that what you are getting is a great, versatile, and wildly entertaining digital effects plug-in. You are not a getting the real thing.