There are a couple other ways I think this can be done-
I've been using an effects loop for a while and I've found that a long cable going from stereo on one end to mono/mono on the other end (seen a few of these online and have made a few of my own) can be quite a hassle, especially when it fails which, in my opinion, cables always do. An alternative would be to use a 1/4 TRS female to 1/4 TS male/male or female/female Y cable- I think Hosa makes one but there may be higher quality versions available. You can then run a good quality TRS cable (whatever length you like) from the effects loop jack to the Y cable and then route the ends of the Y through your effects chain.
Another option, if you're comfortable wiring things, would be to make a TRS to dual TS (send/return) splitter box (would probably fit in a Hammond B box) and incorporate it into your pedal or rack set-up.
(Message edited by eardolin on June 06, 2007)