Yes, and No!
Yes, you can do
basically what you want, but no, it's not exactly as you described.
I'm not sure why you'd want drums on Track 2, but it's neither here nor there.
Let's say
the tracks lay out like this on the tape: (my version for this illustration):
Track 1: Guitar
Track 2: Bass
Track 3: Vocal
Track 4: Drums
...
Channel 1: Mic or DI your guitar, Track 1 Rec Funct switched to DIRECT
Channel 2: DI or
plug in your bass, Track 2 Rec Funct switched to DIRECT
Channel 3: Mic the PA or plug vocal mic directly into the board, Track 3 switched to DIRECT
...
Channel 4: Kick Mic plugged directly into the board, Track 4 Rec Funct switched to BUSS R
Channel 6: Overhead mic (on 1/4" plug),... which routes signal directly to BUSS R
...
PAN Channels 1, 2 & 3 to BUSS L
PAN Channel 4 to BUSS R
...
...
This records DIRECT mode on Tracks 1, 2 & 3 from Channels 1, 2 & 3, respectively.
This records in BUSS mode on Track 4 from Channels 4 & 6, combined.
Panning 1, 2 & 3 Hard Left and 4 Hard right keeps all non-drums signals off Buss R.
(You could even input a 3rd drum mic into Input 8, but it would combine on BUSS R with 4 & 6, and therefore might be superfluous.
...
You can mix & match these tracks according to your wishes. My track arrangement was devised to keep the example as simple and clear as possible. All you really need to know is to Pan all your Direct Mode channels (1-3) to the opposite side of your Buss Mode channels (in this case 4/6).
...
This leads to a quick caveat of something I mentioned in another thread. PAN
control has no effect on DIRECT Mode recording onto tape, itself, but the Pan does affect how the channels feed to the Buss L/R, and so channels intended for Direct Mode recording could also affect the Buss L or R, if you're combining Direct and Buss Mode recording simultaneously.
I hope that's clear and not confusing.
....
The thing about using Channel 6 and switching it to "2" actually takes whatever is plugged into the XLR from Channel 2 and "borrows" (moves it) to 6, which SOUNDS like it should work,... but I'm not sure it actually would. For one, the manual states not to plug something into the 1/4" and XLR inputs simultaneously on any channel. This may set up an impedance mismatch. ALSO, I don't believe when you plug into the 1/4" and XLR mic input on any channel simultaneously, that the 1/4" and XLR are separate, but instead the signals get combined. SO, if you think you'll plug your bass on 1/4" into Channel 2, and a drum mic into the XLR on Channel 2, then to "borrow" the #2 XLR over to Channel 6,... then I believe the bass signal and drum mic signal may be combined and routed over to 6. HOWEVER, this is my understanding and could bear out some experimentation. When all else fails, use 5/6/7 or 8 inputs on 1/4" plugs, just to keep it all simple and
straight forward.
....
I've covered a lot of ground and tips on this one scenario.
I REALLY HOPE NOW I'VE NOT MADE ANY FACTUAL ERRORS OR CONFUSED MATTERS EVEN WORSE!
(but I think I understand the 424mkIII well enough to shoot from the hip on this one!)