I'm with HTH on the "why not?"
Not because I think you ought to do it, everyone's got to go their own way to get their instrument doing what they want it to do.
But I would be interested to hear your reasoning after "Not a road I want to take...". That made it sound like you think it might be some effort and possibly not productive enough. Of course, it does kinda depend on the type of music you play, how distinct you want the different voices to be, and the ease of getting from one to another accurately everytime.
Personally, I stumbled into the volume control way of doing it in gigs in the 80s because I had to - I was lead guitar and lead vocal and I was using a single channel marshall-type thing. I used a guvnor to kick it a bit harder when I wanted, but I was pretty much using vol/tone on the guitar almost by instinct.
Playing at home, I was still tending to use "everything on full" on the guitar because at living room volumes backing off does tend to muddy you up a bit more than you'd like. In the last few years though (always at home now) after much fiddling with small amps and a couple of modellors, I've found that the "muddying up" thing was a lot more to do with trying to use my "gig" amp EQ after turning the master down to neighbour friendly levels. I'm much more prepared to naff about with the EQ knobs on an amp nowadays depending on what volume I'm restricted to... in days gone by I used to "find my magical settings" on the amp and then tended to expect it to work from one venue to the next, forgetting that it still had adjustable tone controls! :lol:
I've actually had a lot more grief and problems getting a channel switching amp to do what I want. Yeah, I can get a cleaner clean or more godlike "godlike-lead-tone"... but can i get the two to sound like it's the same guitarist in the same song?! Nope... :roll:
So, ummm... yeah, I'm probably even less help for you in this thread than some others. I'd personally want a single channel amp that gave me "the" basic sound which I could then stick a quick boost/overdrive in front of if the guitar controls didn't give me enough variation. :lol: