It's currently the cheapest solution and IRs & reverb take more processing than anything, so I'm sure the processor isn't cheap. I'm definitely getting one. I got about 5 goto IRs and can tell which ones they are by listening. Buying Ownhammer IRs, you have to do that even if you have a $2000 Axe FX II preloaded with the best IRs. They're worth it, they put a lot of hard work into them. Like Singtall said, this is basically the upgrade method from Eleven Rack to an Axe FX for a couple hundred bucks vs. a couple thousand. There's free IRs on the Andy Sneap forums all the time too. http://www.ultimatemetal.com/forum/backline-414/
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