Recording nondestructively w/ outboard effects loops

[Boat]

I'm recording electric guitar through an mbox pro (3rd gen) into pro tools 9.0.2, and would like to use my pedalboard (reverb, delay, but especially tremolo) as I do this. The catch is that I would like to do it non-destructively, i.e. record two tracks at once, one with the effects printed on and one just direct. Is there a way to do this completely inside the software?

My current method involves creating a send from the dry track to one of the four available outputs on the back of the mbox pro (there are six total, but two are feeding my monitors), then connecting that output to the other front di input with a physical instrument cable. That channel is equipped with the send/return loop, which is then routed to a new track, and the two tracks (dry and wet) are recorded simultaneously.

A line level out to DI just seems like it would create a bad acoustical result (though I haven't detected badness, really, but I do have to turn the send way down to keep from overloading the DI). I tried to take the line out to a line in on channel 3 (then 4), but somehow the send/return loop was not involved in the chain. I suppose the preamplifier is not connected to the line in? Does it just go directly to the converter? I'm also concerned with phase/latency issues, though again I haven't detected any with my ears. I suppose I'm just looking for something tidier.

As this sort of thing is done automatically with software effects, I would have thought the same sort of thing would be offered to users of hardware effects. Does anyone know of a way to do this?

[formfunction]

Look up hardware inserts in the manual. Although I have never tried this in "non HD", I presume it works. ff