Hieronymus - perhaps you were thinking of a phase restoration switch - which sadly doesn't exist, since like David said it will require heavy DSP processing. Think aural exciters ...
Anyway, you've now heard what the Distillate can do in a live situation and it sounds like your doubts have pretty much disappeared.
I still recommend the upgrade to a blend pot, as it adds such a lot of versatility for just a small investment, whilst retaining the original options.