I've used mine as a loop-within-a-loop with my Triple Rec. It goes amp Send to NS-2, then out to effects, back to NS-2, then to amp Return.
However, I normally don't care for that combination for one annoying reason. The NS-2 allows you to set the threshold, but the control's taper is very poorly distributed. Only the very last ~5% of the control's range is in any way useable. Anything above that and the NS-2 lacks the ability to even dampen, nevermind eliminate, signal chain noise. If you set the threshold juuust high enough so that the system goes dead quiet when you are not playing a note, then the NS-2 starts to produce a mild volume-swell effect like a violin most noticeable on lightly-picked single notes. This 'soft knee' attack threshold is actually kind of useful for softer or slower passages; it's not a bad sound in and of itself.
The problem is, that same attack threshold for noise suppression also affects delays and reverbs, causing unnatural cut-offs of delay echoes and producing gated reverb even if you don't want it. For that reason, I prefer to place the NS-2 before the delay and reverb for the more natural sound that configuration produces. I can still place other effects in the NS-2's loop if I want, such as maybe a graphic EQ, or maybe a BBE Stomp, but if that's all you've got to put in there, there's not much point.
The NS-2's loop is a good idea overall, and if you're going to put one up front of your amp, then it makes even more sense. But until they get rid of that soft knee attack threshold with faster real-time processing of the noise gate, the electronics are just too primitive to use with acoustic effects such as echo, delay or reverb and keep them sounding natural in the NS-2's loop. It's coming though....the chips are already possible, they're just cost-prohibitive currently to put in a little guitar effect. Give it a couple of years and not only will noise gate technology get smarter, we'll also start to see real-time EQ and compressor processing as well.
