Yeah totally separate would be nice, but I have a splitter that should work fine. The HPF doesn't negate it since some still comes out. What does end up happening is the harmonics of those octaves trick your mind into hearing the subs. Very odd, but that's what I've read in numerous places. I don't know the science behind the mind trick, but it's there. I think the feel would still be there, I can't remember right now, but the notes and beefy tone are still there with my bass, it's just tighter with more clarity and less room rumbling.
Never thought to try it in the loop, but oddly enough if you have an hpf before the preamp, but then boost the lows on the amp, you get very present bass with lots of clarity and beef but little mud. You can still get some mud/rumble if you want.
I think what happens is you're eliminating the very low, lows because of the -12(or more)db/octave, but then boosting the freq point of the low on the amp only. That way you get the low mid and mid harmonics from the low notes, along with the lows from the amps low freq eq point, but none of the muddy really low frequencies. That's my understanding of it at least. I think it's basically giving you a tighter focus on the lows essentially. It sounds surprisingly good. I imagine the effect to be similar to a band pass filter like a wah, but on the lows.