Interesting! What mics are you using for the cabs?
Also, if the exploiter is really bright, what keeps it from being too bright on stage?
This brings up a whole other can of worms, which is that eq'ing for what's on stage can result in some peculiar curves. If you have a bright bass, but a dull sounding rig, you can end up working the sound against itself as it goes through each stage and if this gets sent to the FOH post eq, they can end up with a signal that has to be mangled yet again. So, my way of coping is to use a speaker that is as close to a good PA as I can, so whatever I EQ for that will be reasonably close to what it will sound like out front. It works pretty well as most soundpeople tell me they just bring up my fader flat and leave it at that.
Still I like your idea of using a biamp system and mic'ing both cabs. All kinds of opportunities to experiment with mics, as well, like a large diaphragm condenser on the bottom and an RE20 up top!