Don't let the name fool you, the BB Preamp is really just a tubescreamer overdrive tuned for bass with a 2-band EQ. Great pedal and I own one, you could record direct with it but it wouldn't be my first choice as an amp-simulating preamp since it can produce brittle highs that would sound better filtered out somehow. If you're going to the PA instead of an amp then you don't really need the XLR, but if you want to use an amp as well as the PA then you could do with 2 separate outputs. I'd check out some preamps / amp-sims with built in speaker sims to roll off the harsh highs you can get with distortion, such as the Sansamp Bass Driver DI or VT Bass, EBS Microbass and also the Line 6 stuff.