As previously mentioned, the reverbs are particularly good, as well as the modulation effects.
One guitarist that plays with us frequently uses the SE version. I own a VC-12 for performing and it operates both the amp and the desktop TL, so I never felt the need to go for the SE, LE or ST. I use both the 'blue' series AD120VTH head and 2x12 cab, as well as the original destop Tonelab. I have been using the Valvetronix line since they became available in Canada.