Hey all, thanks for your thoughts and suggestions on this!
I have decided that even though I could get a killer tone from the GED 2112, the fact that there is no way to bypass the unit while I'm using another unit (short of an effects loop pedal) is a deal breaker.
I got curious about this so I checked it out... So just fyi, There's a jumper on the inside of the GED that allows you to change the dual function mute switch to bypass. Its explained further in the GED2112 thread.