I've got one of these. I mostly use it for playing metal. The EQ points (which are fixed) are typical of most Darkglass products, so aimed at a more modern sound.
However, like many Darkglass products, whilst its marketed at heavier genres, its really versatile if used correctly. The key to using it as you're suggesting is to reduce the input level. They're super sensitive to this, and with most basses I've tried (fairly modern, active ones from Dingwall, Ibanez and Yamaha) going straight into it gives a signal that is too hot to access the low gain and clean capabilities that the pedal has.
It has the ability to increase output by up to 12db to compensate for reduction in input gain, so any loss of volume on the way in shouldn't be a problem in that sense.
The cab sim can only be run through the XLR out, its off all the time from the main jack output.
If you're still not sure you could try downloading a free two week trial of Neural DSP Parallax. Its essentially a software emulation of this pedal (not quite 100% faithful, but close), and gives you a very good idea of what the pedal is capable of.
Hope that helps!