Crap. Just found out that while adding a cabinet after-the-fact sounds great going to the board, the cab still "colors" the direct sound (also an issue mentioned before) which screws up the direct-to-amp tone. (sigh)
Yes, that is why many users are looking forward to that "total cab bypass". I talked to CK about this and he is taking this very serious and he is already investigating how to make this better.