I think if you really prepared your songs and have stored their settings in performance lists, there is no problem using the BK-7m live. I have it placed half on top of my MoXF, using specially shaped hard styrofoam parts underneath, so that the BK-7m knobs are really close enough to reach all of them conveniently for variations/fill-ins while playing. Pressing the control wheel is only necessary each time you select a new entry in the song list.
You could also consider an iPAD and those two great apps iMidiPatchbay or Set List Maker to send bank/program changes for sound changes - a matter of preparation. The BK-7m is just not recommendable if you like selecting and changing sounds spontaneously without preparation.