Yeah, automating the bypass is what I worked out on my lonesome before I posted the question... I was just thinking it seemed an unduly messy way to do it in that it creates two new envelopes and two EQ instances.
I could split the tracks as gecko suggested but as I already have pan, volume and effects envelopes on the track, that's just getting way too messy - it is one guitar take, I want to keep it that way because of those other variations I'm doing if possible. Same as printing the effects on the track, because I'm sure I'm going to change my mind about EQ once I add in some more stuff and try to mix it properly - I'm just assembling a rough mix as I go at the moment.
Never mind, my original solution works fine and seems easiest... thanks for the input guys.
And Jimmy..... you realise you almost gave Crows rep for coming up with the solution that I'd actually written in the first post....





now go back to the Cubase forum... I'll concede this one to you but for $60, I'll live with
Reaper's little quirks...