Am I imagining things?
What a difference!
I actually scrolled through dozens of different cabinets (with auto-load on) and couldn't hear a difference at all. It was definitely NOT like this before. Awesome!
The only "odd" behavior I noticed was that the output volume dropped while I was scrolling through different cabinets. It seemed to stay that way until I re-selected the current rig or a new rig.
I ran the KPA directly into my Reason Bambino Grande effects return and into an EV12L 1X12 cabinet and was totally blown away.
For any users out there who had a problem with the KPA monitor out coloring the tone when bypassed...you might want to revisit the issue with this update.