But the AD conversion would still be happening in the Eleven Rack either way. And you'd still be using the Eleven Rack's preamp too, just inserting another in front of it. If you specifically want to colour the sound with your Avalon, then that's a different story.
If you want to get the most out of your Avalon and the converters in the 003, then you could not use the Eleven Rack at all and get your distortion from a plugin like
Eleven MKII.
Joel