I have a metro loop on my super lead clone, but it's not the best solution, IMO. It just won't get that lush "wet" effect. It's good for some delay, but I can't get the delay level very high until it sounds like crap. It sounds moderately better than the delay out front. For JCM, if you're not running your MV very high, it should work better. For a NMV amp, it just doesn't work all that great. As the guy from Carol-Ann amps said, an effects loop in a NMV amp is like fitting a square into a circle.
Now I'm not discounting that something else is wrong with my amp or that I've installed it wrong or even a faulty unit, but I've been over it multiple times and SDM even helped me out with it over email. Not a knock to the metro loop, just to the idea of installing an effects loop in an amp that wasn't designed for that purpose.
I think the best solution for these types of amps is a wet/dry setup. A hassle and not convenient, but the best solution.