Regarding the low cut, my philosophy is the minority opinion on TS.com, so please take what I have to say with a grain of salt. Most people on TS.com say you should never use the low cut (also known as bass rolloff) feature.
Personally, I don't use low cut very often either, but I think we can also use it as a tool when certain situations arise. People say that you can always adjust the bass in post...I disagree. A recording that has a extreme bias in frequency, such as very bass heavy sound, is very hard to get balanced in post.
So, if I'm at a show that I know that the bass is gonna be 'in your face' and perhaps will saturate and overpower all of the other frequencies, then I'd for sure kick the low cut in.
There's another reason for this philosophy. Personally, I've never had great results messing around with EQ in post. Generally (not a rule, but generally), my recordings always sound better as virgin recordings and any EQ I put on the recording just serves to screw it up. OK, I said that this is generally true...I've had lots of recordings that I've improved the sound of in post using software.
In spite of that though, I've screwed up SOOO many more shows than I've fixed by goofing around with it in post. After applying all of the fixes, I just end up reverting back to the original sound and it's usually better than after I 'fixed' it.
So, my belief is that the best answer is to do the best job possible to get the best sound you can during the show as the recording is made.
Learn to use the low cut in rare situations that warrant it and then you don't have to apply any software 'band aids' later on.
My opinion of course...which again I admit disagrees with what the majority feels.