EDIT: Ok... I might be on to something here. I only have a couple minutes into this but I plugged the Torpedo into my API 512c and went back to using the BLA modded converters in my 003. This is the closest I've come. The levels are no longer buried by the acoustic, it feels good and is the most mic'd-amp-like I've gotten yet. My amp sounds like my amp. Psyched. So far tried it with a couple ownhammer mixes and the Redwirez deluxe-421 IR. Hopefully this isn't premature... but I think I'm getting somewhere.
Also- to answer the questions...
1. Most of my amps do not have a line out (or effects loops for that matter).
2. I live in an apartment (hence the Torpedo) so the chances of me a/b'ing a cab at the volume required is next to none. I also do not have a session booked for a while and am not really motivated to drag my stuff out of here just for a quick clip. Hope you guys can understand.
3. EQ: I suppose it's just my recording philosophy. I don't want to be married to eq prior to a mix and I don't want to rely on eq to band aid an issue if it is a problem with how I am using the unit. I am just not a "fix it in the mix" guy. I like my sounds being correct at the source (including mic position- which there are certainly a lot of in this unit!). I am thrilled with my tones and just want to have this unit translate that.