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Theoretical physics has always being far from the reality,
I won't agree with this statement. Theoretical physics is everywhere, as physics by itself is aiming at explaining how our world (and our universe) works :)
Although models designed can be easily used to explained what is expected to be seen.
Models must explain, but also predict and thus be testable. Otherwise, one just fits some signal (and this is not very exciting, IMO).
There are times that we see a wide gap between the model explained and what is being seen
Unfortunately, for now, everything looks quite in agreement with the Standard Model. But we still have a few decades of data taking... This may (and hopefully will) change :)
RE: Exploiting the results of the CERN LHC - about my own research