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When I first read this, I thought it was in essence a two channel clean boost, but apparently there is no actual boost circuit, so the unit can only subtract gain and not add it. An interesting variation would be to add a boost circuit that could both reduce or add volume. You could use such a circuit for the rhythm/lead switch as described, or use it to switch betwen humbucker and single coil guitars (put two inputs in it while you're at it!).
John
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