I tried it with my GT-6 to my RK1 and ended up going with Pedals. I still use 4 cables. Some effects go straight in to the amp and some go through the loop.
I use the 4CM with my GT-8 on my ROV. This past weekend I did the parallel to serial loop mod on it and it seemed to make a big difference (not as much sound loss, highs were clearer).
Definintely something for you to look at - it's an easy thing to do and can be changed back if you don't like it.