I had the exact same White Chasis 101B....bought new in 1995. I much prefer the Black Chasis tones which seem to have more gain and a little more modern sounding. Of course, last time I played mine was 2001 when I sold it. I would own another white chasis only if it was in Excellent to Mint condition...which that one is NOT.
I have a very clean ´95 white chassis 101b - I totally agree with the "less compression" thing, which I think makes it cut though a mix much better than the later ones. It also probably has a little less gain than the black chassis.
Here´s what Jorge @ Bogner told me about the cab switching option:
"The speakerswitching is done via some very expensive relays and it switched the ground then rather
the hot signal, so the loss is neglectable. It does not need to be removed to bypass you would just
need to jump, short the relays."