You really have to keep the dry and processed signals separate, otherwise things sound cheesy really quick.
I noticed that when the unit was switched from 'Wide' to 'Normal', then 'Equal' and 'Subtle', that the tone's register seemed to rise. I think the processed and dry signals partly phase cancel some of the bottom end, making it a little hollow while emphasising the upper mids and treble. I think that is the "cheesy" sound often associated with this setup. It's not always just a nasal honk sound, but is in that range.