I'm having one built right now. Includes a top of the line 42 LED playfield in a widebody cab (plus two other quality monitors), a nearly top of the line PC, a lighting system (3 RGB and two flasher strobes), and a force feedback package (shaker motor and 8 contractors tied to flippers, bumpers, and slingshots). I came to pinball by way of video games, so I don't have the strong preference for the real machine feel that others do. Still, I spend about 25 dollars a month pumping quarters into local machines.
I think claims that they play nothing like the real thing are overblown. Much of it depends on the table author. I play the VP versions and real versions of Scared Stiff, Simpsons Pinball Party, LotR, and Cirqus Voltaire regularly and the skills and strategies I develop from one mostly map to the other. In terms of appearance, they look similar (except for the true 3D of course ). In terms of sound, they are exactly the same. I would say that I get the expected reactions in the VP versions in terms of behavior about 75% of the time. It's overall just less variable and therefore easier, though there is significant variation in ball reactions. The modeling has only gotten better over time and will continue to do so. May not be exactly the same as a real machine, but still fun.
If you don't dig it, that's fine. But to call the virtual cabinets abominations or affronts to real pinball is ridiculous and disrespectful of the massive amount of skill and ingenuity that has gone into getting the virtual hobby to this point. What's more, people don't realize that the virtual hobby can lead to the purchase of real machines and the support of an industry that otherwise wouldn't be there. I plan to purchase my first machine, a recently produced new in box one, next year (assuming my wife gets the job she's eyeing up!). If I couldn't play all the classics in VP, I might otherwise spend all my money trying to acquire machines produced by long defunct companies, which I don't really think is the best way to keep this thing going.