3 instruments going through the Axe FX? Do they each get different amp/cabs etc aswell?
Yes, pretty much:
2 Guitars each with their own amps, cabs, overdrives, EQs, Reverbs, Delays
1 Bass with dedicated compressor, EQ, Drive, EQ
It worked well. I only would have wished for a second monitor so I could have panned the guitars a bit L/R, but was good enough.