In all seriousness, I'd consider something else but the Valeton. Latency is kinda large (>5ms), so once you add the dual latency of the HXFX (because you'd likely be running the GP-5 in the loop), you'd end up with something close to 10ms total. Not the end of the world but possibly noticeable already, especially when playing through headphones.
I know it's considerably more expensive but a Tonex One Plus is quite a better device in my book (super low latency of around 1.5ms), plus you'd save an extra device as it has direct MIDI support. Patch switching is pretty much gapless too and, most of all, there's some incredibly great captures you can load onto it, mopping the floor with the Valeton (even if it allows to load NAM captures - but they're converted into it's own format and end up sounding kinda same-ish).
How do I know? Because I'm using Tonex Ones in both of my main setups but also own a Valeton GP-50 (for backstage jamming, as a backup and what not).
The Tonex could easily become a keeper for all kinda small rigs whereas the Valeton likely won't.
You might as well be so much surprised that you wouldn't want to purchase any "whizzbangier" pedal any day soon.
My smaller rig is sort of comparable, I'm using a Boss GT-1000 Core for FX, boosts and stuff and a Tonex One in its loop (plus an extra Ampero Control MIDI controller - but you wouldn't need that, I only bought it because patch switching on the GT is extremely limited). It turned out to be so excellent that I have zero plans to ever rip it apart again, despite all the new offerings around.