In the distortion section i find the separate volume and blend knobs very useful for kicking in a nice OD/db boost for chorus'.
The distortion isn't that bad, in a band situation it cuts through mix nicely with my rig.
I also use the colour switch engaged and just boost the mids. The M-80 sounds fat and juicey through my swr.
If it works for you then I cant argue with it, but I used to do the same and then thought, why am I putting the mids back in that Ive just taken out by using the color button? Most of the time now I prefer my P bass without the color button, and all the time for my fretless. There are occasions I do use it such as a great clicky pick tone or to boost the lows for a chorus or solo.

