John,
I use my SF-2 in conjunction with my Ampeg SVT IV Pro Amp. The Ampeg has two amplifiers and a crossover, so I use it in the biamp configuration. What I do is run the power amp out to the ins on the SF-2, and then that into the power amp ins on the Ampeg. Works great. My channel A is by 1X15 cabinet, which is set at low pass. The B channel goes to my 4X10 cabinet (both are Ampeg BXT models), set at high pass.
I did try it in the effects loop, but it just sounded better to me running it the way I do. I do have to watch the volume levels, since it has a tendency to clip, particularly when using a bass with active electronics. Funny, my alembics don't clip out no matter what I do ... imagine that!
Anyway, I think you'll find the SF-2 an invaluable piece of equipment, particularly for non-alembics, and non-active electronics basses. It does wonders for my Rickenbacker 4001 and '73 Fender Jazz. Hope you enjoy yours as much as I enjoy mine.
Best regards,
Alan