Would this work if I just used the keyboards effects that it already has? On an unrelated note, is there any quality loss when going between TRS/TS/RCA/XLR in different combinations?

Epiphone Les Paul Standard
Fender MIM Standard Strat
Fender Deluxe Reverb
Digitech Bad Monkey
Electro Harmonix Big Muff
Ernie Ball VP Junior 250k
Dunlop Cry Baby Wah