Cool. I have an original BOSS CS-1. I love it for guitar of course but... as a secret weapon? On bass! It sort of slices things off at around 80Hz maybe, so it's not good as a track compressor. But as a solo boost and girth enhancement (think Extenz for Bass) it is mind blowing. It always gave the impression that I just sort of made my bass stand out for 8 bars with some finger trickery. A seriously great sound.
BUT!!!! Your idea of parallel processing changes everything, Why didn't I think of that. I'm going to pretend I did. This is going to make my next bass track bitchen!