almost there
You don't mention the size of helicopter you fly and whether single or 2 pilot. Simulators have the greatest benefit for complex heavy types that are flown 2 crew, because complex system malfunctions can be covered, and because the examiner/instructor is not part of the crew - he can see the pilots acting as a real crew.
Shift down to single pilot, shift down to smaller simpler singles and the benefit decreases but there is still benefit.
If you are down to the Bell 407 or whatever, the training benefit is small because the stuff you want to do (engine off landings etc) is not particularly well replicated in many sims. OK you can do tail rotor drive/control failures and some engine malfunctions but a 407 driver is a "real pilot" and not a system manager as with some complex types. The emphasis in training and testing is likely to be more towards handling, and handling near the ground at low speed is something that many sims still struggle with.
Of course even with a 407-type, there is still one big advantage in Sims - its much safer! You have to weigh up the poorer training of doing the handling in the Sim (being a non-perfect replication of the real thing) versus the possibility of killing/injuring your pilots and (more probably) having an aircraft offline for bent skids or worse.
Overall, sims are great but not 100% competant at completely replacing the visual handling excercises. One day hopefully they will be.
HC