only 2 effects at a time?

I've been working with my VS880EX for a few months, and I've found something that I'm not sure I understand. It's about the effects. I think I've finally figured out all about the input vs. send/return to use the effects. My question is, there are seemingly hundreds of effects built in to this unit, but so it seems like you can only use two at a time per song. Is this true? does anyone else think this is kind of a rippoff? I know I can apply something like reverb to all 8 channels, but if I've used a distortion or something for a guitar part, then I'm done. If you use send/recieve on a particular track, then try to use it on a new track, you lose it on the other one or it applies the new effect to the old track. I've tried using input, then it says its already been recording and you can't use that "channel" for another effect. Is there some way to redirect this channel to use again, or am I stuck unless I delete the track? I'd really like to be able to use more than two effects on one song, if not I don't know what the point of having all those internal effects are.
 
its really pretty easy. Record the track and apply the desired effect. Now record the track with the effect added to a seperate track. You know.. track bouncing. The new track will have the nice effect recorded into it and the processor is all freed up again.
 
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