I cheat a bit on the octatrack, using daw prepared samples…
before that, i used the master-fx of my recorder…
before that… i had a more roland-based setup with a big mixer and all that.
yeah, your right… it can enhance your sound allot… it did wonders on what i did on the roland-based setup… but…
that was allot of gear… such a big complicated pile… that i never figured out how to gig with it… (had so much fun in my studio though)
now i am old… i just want to gig a bit in the local pub… just because “i missed out” when i was young… and well… its just more fun for me to keep it simple and easy breesy… i dont want to be impressive or “the best out there” i just want to be a little bit rock and roll in my “old age” 
Hence, i am very happy i can just cheat with my daw and still sound crispy.
but yes, if you dont mind taking heaps of gear with ya… i am sure you can get it more banging without “cheating”
some forum-members put out excellent recordings of their gigs. most of them claimed not to use big output masterchains… so its not necesarry, (but i am not that skilled)