Ableton Live has completely toned down the realism but kept the knob-based interface. When you interact with them using a mouse or on a touch-screen, these on-screen knobs seem skeuomorphic, but you can 'keybind' them to a knob on your hardware (e.g. on your USB midi controller).

The 1:1 mapping between the hardware and on-screen knobs is a great design decision.