I've been making a lot of super layered sounds recently, being quite militant about the m/s separation for certain layers, (sub and lower mids in mono, upper mids and tops in stereo).
I generally group (bus) these channels together and apply some processing to the group 'master' channel. That got me wondering about stereo effects on a master channel full of mono channels...
Doesn't it negate the m/s separation in the first place?