High amplitude vibration regimes can cause significant damage to oilwell drillstrings: torsional stick-slip oscillation, forward whirl and backward whirl are each associated with different kinds of damage. There is a need for models of drillstring dynamics that can predict this variety of phenomena that are: efficient enough to carry out parametric studies; simple enough to provide insight into the underlying physics, and which retain sufficient detail to correlate to real drillstrings. The modelling strategy presented in this paper attempts to balance these requirements. It includes the dynamics of the full length of the drillstring over a wide bandwidth but assumes that the main nonlinear effects are due to spatially localised regions of strong nonlinearity, for example at the drillbit cutting interface and at stabilisers where the borehole wall clearance is smallest. The equations of motion can be formed in terms of this reduced set of degrees of freedom, coupled to the nonlinear contact laws and solved by time-domain integration. Two implementations of this approach are presented, using (1) digital filters and (2) a Finite Element model to describe the linear dynamics. Choosing a sampling period that is less than the group delay between nonlinear degrees of freedom results in a decoupled set of equations that can be solved very efficiently. Several cases are presented which demonstrate a variety of phenomena, including stick-slip oscillation; forward whirl and backward whirl. Parametric studies are shown which reveal the conditions which lead to high amplitude vibration regimes, and an analytic regime boundary is derived for torsional stick-slip oscillation. The digital filter and Finite Element models are shown to be in good agreement and are similarly computationally efficient. The digital filter approach has the advantage of more intuitive interpretation, while the Finite Element model is more readily implemented using existing software packages.