It's got its ups and downs. I had an 11R for a year or so, needed $ and sold, it, then when it came time to get another processor, i opted to try out the pod hd. (Actually Ola's POD video made me pull the trigger) Also, I had good luck with XT, and thought i'd give it a try.
The POD to me opened up more creativity but, for raw amp sounds the 11R has it beat. With the 11R it took no time at all to get the sound you wanted(IMO). the POD obviously takes some tweaking, and i'm just not a tweaker. I'd love to be able to afford an Axe FX, but its a lot of $ for a bedroom player. Obviously folks can get some good tones out of it, and they seem to get it to fit really well in a mix. It's all relative though.
All in all for the expenditure its a good unit. Again my main axe has 707's in it and i'm not really happy with their sound. I may try to change pickups, and give another go at it.