Is a passive aby switch what I want?

I record my guitar with Amplitube. I have my guitar hooked up to a HD500 which is basically doing nothing other than providing a stereo signal to my interface. I like this setup because it's easy to go mono or stereo. I love my HD500 when it's with my DT50 amp, but I much prefer Amplitube for recording. I would like to take the HD500 out of the loop and plug it back up the amp (I may record with it some too). So for my direct signal is a passive aby what I want to retain the mono/stereo flexibility?

I like to use channel tools sometimes, It's faster than copying a track and using the nudge feature. I can select mono in Sonar easily, I can also use two amp sims at once if wanted, so it seems to provide more flexibilty this way.