IK Multimedia's ToneX software is absolutely amazing. As someone that owned and played both the AXE FX II and III, I can tell you that ToneX is not only more accurate than the fractal but also more obtainable; not to mention it feels exactly like I'm playing through my amp.
Since the release of ToneX, I have modeled every amp that I own and now use those models exclusively for writing and recording. IK Multimedia really knocked it out of the park with this software. I highly recommend that you check out ToneX!
If you purchase ToneX through my links, I earn a small commission. My link is right below.