QUOTE (thefireball @ Nov 9 2011, 04:25 PM)

Hmm.. how does this work, Ivan?
(Note - I'm not Ivan. I am just emulating him

.)
It emulates/models a single channel from an old SSL 4000 series console/mixing desk. So you theoretically get a single channel that has the SSL's channel strips internal gain structure, EQ and dynamics which you can then place as a vst in your DAW to get the SSL 'sound'. How well it enulates/models the SSL is another matter though...
There are some very famous consoles/mixing desks and they each have their own sound. Some people want to get that sound but can't afford to buy the desk and maintain it or can't afford the hourly rates of a pro studio that has one to record in. So they get the emulator to achieve what they want. Sadly most of these people can't compare against what the original was like so are in no position to judge if the emulation is any good or not.
Also one of the major things about a pro console is work flow and ultimately these vsts just can't deliver the same hands on workflow as the real console. Against that though an SSL 4000 series would have set you back a few 100 thousand dollars new and could easily have cost you a grand a month to maintain and run.
A bit OT - One of my friends came into some money a few years ago. He spent a fortune building a studio from scratch just so he could then buy an SSL to put in it.