This is an interesting convo. In my opinion, additional parameters such as EQ are always welcome. But as Yoda Guitar mentioned, what affect do additional parameter have on DSP? Haven't a clue. Having used the KPA for a long time now, I've settled on how I maximize things the number of things I can use simultaneously AND simplify footswitching.
I create one rig and load with effects, activating the combination of them that I'll use most often for the particular song or just in general in Slot 1.
I create separate Rigs (sometimes starting with copy/pastes of the 1st Rig) to use with the 1st Rig in a performance as needed. I won't ever need, using the OP's example, two drives with their own EQs active at the same moment at time, along with other effects, so I just make additional rigs to give me the adequate combinations needed.
If I need MORE combinations of effects than these five Rigs in a performance, I use the morph state. Since I don't use an expression for morph, I always set the Morph setting to be controlled by the 5 Rig footswitches with a rise and fall of zero. Since pretty much all the effects have a mix setting, I morph this mix setting to effectively toggle effects. (Mix 0% is off, mix 100% is on). This way I can press the Rig footswitch once and effectively toggle as many effects on or off at the same time along with adjusting other effect setting parameters to taste. Thus Morph functions like a second "scene" within the Rig. For example, in the base state I could have a drive's mix at 0% and an EQ at 100%, then reverse their values in the morph state (or anywhere between the extremes of 0 to 100)
This way, I have 5 completely independent rigs, each with an instantly accessible 2nd scene, requiring a single press on the same 5 front row of footswitches to access the morph/2nd scene. That's ten combinations with at most a double press of a front row footswitch.
If I need MORE combos of effects than those ten combinations, only then do I bother assigning effect blocks to the 2nd row footswitches.
Another thing I do to maximize effect combinations of effects is to utilize the ducking parameter on delays (around 1.5) and sometimes the reverb a touch (around 1.0). If there's one thing that would otherwise make me "need" to create more Rigs, it's getting the ambience right for different parts of songs or situations. In most situations I find I don't really need or even want different delay algorithms or settings of the delay in the same song, in most case just a mix adjustment of the delay in question would do the trick. Specifically when I'm playing a busier strumming pattern, I'd need the mix a tad lower and less busy picking needs the mix a higher. By utilizing ducking, I don't have toggle back and forth as it adapts musically to my playing. With these rather low ducking settings, the delay diminishes just the right amount automatically when I need it to without being really obvious that something is being turned on and off, quite aside from less tap dancing.