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comparing hardware to plugins

Has anyone out there (here?) had the pleasure of comparing the hardware counterpart to your plugins Which ones and how did they stack up?
What are the closest to the real thing? The UAD? The Powercore? How close to the real thing was it? Does it really sound like a 1176? What's the record for the most question marks in a post?

Concept of reducing latency by hardware monitering,,,

Greetings,

one thing i have never quite understood is the concept of reduring the latency you hear (through headphones i would assume) when overubbing onto a whole lotta tracks. obviously the computer has to do a lot of stuff to kee up with the info flow..but i am trying to get my head around the hardware fix.