Depends on which "this" you're trying to make easier.I am thinking about going out of one of the headphone outs and then back into the regular instrument in but would prefer a piece of hardware which would make this easier.
On the output side, a stereo-to-dual-mono cable is already pretty simple, and the Babyface has two headphone sockets with different output impedances.
The other built-in option with that device is to use the balanced line-outs and monitor the process via headphones, but that option makes most sense if your outboard gear requires/accepts balanced input. It also rules out using studo monitors.
If you want something permanently set up that doesn't tie up either a headphone socket or the balanced outputs, a Babyface by itself won't do the job. You could add a DAC via the optical output, but I just looked into this approach myself and there's nothing between a €35 box and stuff that's more expensive than it's worth to me.
If you want it all in the same box via USB and your heart's set on RME, I'm pretty sure the UCX II is the next option at almost twice the price of the Babyface.
On the input side, I expanded the inputs with an Octopre, and that's worked out pretty well so far - it's a good balance between quality and price for my budget, too. Is that the kind of hardware you're thinking of?