this method applies effects only on the channel which the effects is inserted, also control of wet/dry ratio is on the effects unit itself, no send fader to control how much or how less effects u need, not versatile enough for me..
Channel inserts are best used for effecting a single channel where you want to apply 100% of the effect to that channel. This is useful for compression, limiting and sometimes specialized EQ, for ex., where you want to impart that effect's sound to only that channel. For reverbs and other spatial fx, the aux sends and returns are much better esp. if you want to retain the original sound and mix it with an effected version of itself. The beauty of the aux system is that you can have a single fx and send many channels to it. For ex., you can send vox, some guitars and keys to the fx while avoiding the bass and kick going to a reverb unit (to prevent muddiness).
The EPM12 has inserts in the outputs, ostensibly to add a limiter or compressor in the chain but you can add the reverb there, at the sake of adding muddiness as a result. You can also use the tape inputs as a rudimentary aux return provided that the inserted fx has stereo outs, but you have no control over incoming levels and have to rely on the fx box's output level control.