tOM,
I use exactly the same setup as you, but I most definitely use a stereo rig. If you care so much about a compressor prior to the H7600, I assume it's because you want to get more sustain or something, not the usual nice compression on a clean track that tidies up the strumming? If that's the case, I think you'll lose a lot by not using the MIDI racks or any H7600 preset in mono, just for the luxury of having a compressor from the H7600. I own and love my H7600, but I didn't buy it because of its compressors. I think either you put the compressor in your own preset by blending a compressor module in front of MIDI racks (using VSigfile, which has some learning curve), or you use a good compressor pedal like a Boss CS2, AnalogMan Comprossor or any favorite pedal. I would never want to lose the stereo ability of the H7600 just to get a compressor as you describe.
Now, if you really only care about mono, then I agree with your approach, and the SwitchBlade is OK, although you might find it hard to get high levels out of the TriAxis into the SwitchBlade without overloading it, as it is line level. That's my biggest pet peeve with my SwitchBlade, and it is well known at this point.
