I agree with all of your points. I only use hardware right now but I also realize that if multibox were better deveoped, it would be far more flexible than hardware only. For my PvP purposes, hardware suits me fine. But I had to buy 7 Vetra broadcasters to send data to the warlocks, mages or both. With software, that would have cost nothing. Given that each Vetra box retails for $200, thats quite a vocal argument for software.

In the end, like most things, it comes down to usage models, cost and individual preferences. There is almost always more than one way to skin a cat.