So if I have a bunch of loops, one-shots or patterns solely consisting of a bass instrument, I can separate it from say another channel that would be my drum instrument. I'd like to begin using external effects, so it'd be awesome to use some without affecting the mix of other sounds.
I'm an Ableton user who's very accustomed to and appreciative of the multi-track options in Ableton. I use a BCR2000 with it, so being able to, for example, fade in a Phaser for a lead track while simultaneously and unobtrusively being able to crush the HIGH freq on a Bass track suits my desires perfectly.
I've been interested in the SP-404 for a long time, but an inability to route out channels for tracks/particular sounds that are or resemble instruments would keep me on a DAW. I found the MIDI+SP-404 FAQ which led me to delve in deeper into this general inquiry.

Thank you for any and all help and consideration!!!