Yeah, the X3 really is a nice piece of kit and it can certainly do a great deal when it is set up properly. For the money, it's definitely worth it. Yes, the AxeFX is a monster, but it does depend on how deep your pockets are, at £1600 it's unreachable for some people in comparison to the price of the feature rich X3 Live. 
 
Ultimately you need to ask yourself what you actually need from an effects unit - For me, the ability to record with the unit was a total winner, especially as you can do a lot of 're-amping' techniques on board without any other gear. Brilliant. Do it!