I have built and use 2 reamp boxes. One with a 1:1 Edcor and another with an 8.2:1 (10k:150) Edcor.
In practice, the 10k:150 works fine, but you pretty much have it wide open all the time and I would have to normalize the DI track to essentially get maximum output from the line outs. That would get me pretty darn close to the same gain settings reamped as I would directly plugged in with a guitar. Sometimes maybe a just a hair more gain on the amp.
The 1:1 as you can imagine is considerably hotter. I never run it over 2:00 or so because then it becomes a boost. Often even around 12:00. And it is full-range boost too, so all kinds of muddy shit, not the same effect as a tube screamer or something.
I agree that the theory makes sense that it wouldn't gain stage properly and all this stuff. I have had that argument before, hence why I built a 1:1 and I couldn't refute it. I also have a clean, full range, op-amp gain booster that I figured I would use just in case. But in practice, the above work just fine.
I recently bought a Little Labs RedEye mkii. So far the DI is pretty solid, haven't reamped with it yet. But that shootout is coming soon with the current band I am recording.