No. this is not correct. You can use one rever, one chorus, and one other effect in a sequence. So, if you are using the phaser, that is your only insert effect for the whole performance other than the chorus and reverb. So, what you have to do is get creative with patch editing. If you want a phaser effect, use filters, turn up the resonance, and use an LFO to make the filter sweep a frequency spectrum. Use different filter configs to create auto-wah simulation. Use LFO's to creat tremolo effects. And remember, you must save these edited patches in user patch mode and then assign those patches to different parts in your performance. Keep in mind though, being creative with effects in patch mode will not help you in perf mode. So making some cool patches that are heavily effect dependant will become a sorry disappointment when in perf mode because you can only use 1 insert effect for the whole perf.