i use an ebs microbass, and if i'm using a lot of effects (usually overdrives) i'll run a clean signal into the desk at the same time to give me something to play with after the fact.
any compression gets put on using a plug-in, but that's the only in-the-box effect i'll use, bar a bit of EQ. software emulation is OK, but i always ended up going back to external preamps...they just sound better to me.
i've also used as ampeg svp-pro and an swr studio 220 as preamps and they were nice, but i just like the simplicity (and size) of the ebs.
i never mic cabs....i have neighbours !