Tried a FaderND, IQ takes a noticeable hit. If you're going to go the vari ND route, I'd go Schneider/B+W or Singh-Ray.
Even with the top quality ones, there are problems at an AoV of wider that 24-28mm (on FF). A vari ND is basically a pair of stacked polarizers, and just like a CPL results in uneven polarization at (ultra) wide angles, a vari ND has a 'Maltese cross' effect that gets worse the wider the angle and the darker the setting.