Hi Dave,
This is all new to me too, returning to railway modelling after over forty years. For what it's worth, I think the expensive chips and all the bells and whistles are over-kill for most people. I'd never be interested-enough to learn all the commands - and seriously - since when could one hear coal being shovelled from quarter of a mile away...? Naaah. Some compromises would be necessary - but one three cylinder Gresley Pacific sounds much like any other etc.
I still see videos of locos with fancy chips in them - with a complete mis-match between the sound and the speed of the train. Chuffing, overrun and maybe a whistle is really all that's needed.
You are right - I think we should have cheap chips and a little PC interface to set wheel size and number of cylinders and whistle type. Nothing more is really required.
ATB.