There are other possibilities.
In my setup, I am connecting my guitar to the UFX III's instrument input.
By this I have several options to further distribute/use the guitar signal
1. send the guitar signal to an external tuner (Korg Pitchblack X Pro)
2. For playing and recording via two Marshall Combo Amps (stereo setup) with external FX (Lexicon PCM81 + PCM91)
- send Guitar signal to an overdrive and further to a Marshal tube amp (preamp) and from there back to the UFX III
- send preamp signal
- to Marshall combos (power amp) to keep the dynamic and
- to either Lexicon PCM81 or PCM91 to add FX 100% wet and wet signal back to Marshall Combo (power amp)
3. By using DURec (Direct USB recording to USB Stick) I can use the UFX III as tape deck without DAW
I can record the backing track, the amps and the dry guitar signal from instrument input
4. I can record the dry guitar signal from instrument input (also with DURec) and use it for reamping
5. I can play guitar through a virtual amp (VSTi) and record again the dry and the wet signal
6. By TM FX routing I can use the external FX (Lexicon PCM 81 and PCM 91) either for guitar, DAW
or even both (PCM 81 with modulation effectst for guitar, PCM 91 for the DAW)
If I got an external guitar processor like you, then I would keep this setup and send the guitar signal via analog output to an external amp emulation and back to the UFX III for recording or playing.
You can see my setup and also a schematic, pictures and a sound demo (played through VSTi) in this blog article.
https://www.tonstudio-forum.de/blog/ent … iii-en-de/
Another sound demo when playing through the amp, mic'd signal. Really silent recording with only a few peaks at ~80dB:
https://www.tonstudio-forum.de/blog/Ent … -DURec-DE/
This article compares my old "analog setup" of over 20y ago with my later RME based setup and performing silent recording at "bedroom level" but using Mics.
There you also find a sound demo of >20y ago through a completely different environment using a combination of preamp section of combo amp, analog mixer and external FX which heavily colorizes the guitar signal and by this dominates the sound.
BR Ramses - UFX III, 12Mic, XTC, ADI-2 Pro FS R BE, RayDAT, X10SRi-F, E5-1680v4, Win10Pro22H2, Cub14