Op,
Really depends on the venue. I currently use one of these setups for live gigs:
-20watt combo Marshall JCM 800
-100watt Orange Rockerverb with a 4x12 (or a 2x12)
- 50 watt JCM 800 with a 4x12 (or a 2x12)
If it’s a bigger venue I really like the 4x12. Really like having control over stage volume and the tone I get.
If it’s a smaller bar, will use the combo. However, I’ve been disappointed at stage volume a number of times so have been leaning to the 2x12 with the Marshall or Orange.
I’d be willing to try using modeling alone, but would need to be in a venue with a good PA and stage monitors.
4x12 is a bitch to move so 2x12 has strength there and it’s pretty light and mine has wheels.