I get the general idea... 8 set lists, 64 presets/patches each...

How is this different than using preset 1-64 and 65-128 etc?

I can see an advantage of not having to tap the bank up/down to patch 312 and all but is there any other advantage I'm not getting?

Do Set Lists allow you to have separate global settings?  For example, can I set up these 3 Set Lists?

1) Gigs

Combo Power Amp & Stack Power Amp

2) Recording

Studio/Direct

3) DT50

Studio/Direct with only "Pre" models

As an aside... Do you think we should set up with Combo Power Amp & Stack Power Amp mode first if connecting to the DT50?  I imagine yes, since the 4x12 speaker cabinet will not be FRFR