I've now made a few Direct Amp profiles, Studio Profiles and Merged ones and found the Studio and Merged profile does not sound the same, very similar but still with a noticeable difference. I suspect that could be due to slightly different results when making the DA and Studio profiles and having refined them both.
Something that also struck me as odd is after I created a Merged profile I found that de-selecting the Cab block in that profile doesn't sound the same as the DA profile it was based on?! Even though the audio sounds like garbage, i.e no cab present, there's a big difference in the sound, both level and saturation.
Is that a bug?
Another feature that would be nice is if the merged profiles upon creation were to be tagged by the KAOS so they could be easily identified in Rig Manager as a Merged Profile. That would be far easier than to trust the masses to stick to any logical name convention