That's interesting, thanks for your experiences. I'd be interested in yours (or anyones) comments on my situation.
I never use it at home for practice, it's solely used for live performance. I have some little combos and practice amps for home, so it only ever gets an airing on a stage.
The band I play in cover everything from The Shadows/Beatles/Elvis through to ZZ Top, Skynyrd, Bryan Adams, Gary Moore etc. The idea is we cover virtually everything, with about 140 tunes in the repertoire, to appeal to the specific audience we are asked to play for. Thus, it's impossible to create specific accurate tones for everything. I therefore have to have each of the four channels covering a broad basis. We play in small/medium venues to between 60-250 people, usually.
I have the res and pres at about 3 on each dial, although I may try your suggestion of keeping them zeroed.
I tend to keep the masters up high with each channel vol adjusted for balance. Channel 2 is used for solo boost.
I keep the clean channel on green, with minimal gain, for as pure a clean rythym sound as I can. I'm not blasting out solos in every song we do.
The crunch channel I have on orange with gain half way, which gives me a decent tone for songs like You Really Got Me by the Kinks and so on.
The OD1 channel I sit on green and dial in gain at about 4, but like you, it's sometimes too much or if dialled back, sustain seems compromised for the ballsier numbers.
I never use OD2 as with the exception of songs like Jump by VH, the gain is OTT for me and fails to cut through.
My weak spot is the cab, which is a basic Marshall 1936 2x12, I know I need to improve this.
Out front, and I know many will do a facepalm at this, I am lazy and stick a Boss GT8 unit through the effects loop in manual mode, using it as a stomp box only, for delay, flange, chorus, auto-wah, comp sustain and on stage tuner. All my individual pedals are gathering dust in the studio.
The diversity of tone is complete by the fact that on stage, I usually use a Fender Strat and Ibanez JS100 to ensure I have trem and multi-pick up versatility. My beautiful Les Paul or Fender Flame tend to only get an airing if we play Just Got Paid or Empty Rooms by Gary Moore, and due to the venues, it's rare. Most of them would freak out - "what the ***** this??" 
Budgets are tight, but if anyone can suggest what they would do, in my shoes, I'd be delighted to hear it. And yes, getting a blues rock band together (again) is on my radar! lol