There are so many combination possibilities in Revalver III that it is almost overwhelming. Also, the pricing seems somewhat expensive to me ($299), although certainly cheaper than owning all the hardware. Might be useful to studios, cover bands, etc. I think Peavey is going to have a limited market for this software.
The Revalver HP version is going for around $70 and is much simpler. There are so many decent modeling amps out there at bargain prices.