yeap it can do 3 cable, 4 cable, front end etc, i do the 4 cable method to maximize all its features. it seems pricey at first but your getting all your effects, amp switching capability, loops for your stompboxes, the ability to rack the brain or keep it on the floor, midi capability if need...
im at a point where it seems i would be a perfect candidate for one, i just dont have that kinda cash and dont see myself being able to make a purchase that big for a LONG time.
In all my Mesa vids im using a 2x12 V30 loaded cab. I dont think they sound brittle or ice-picky at all. In fact most other speakers i play thru next to V30's sound harsh to me