Can’t afford any decent analog pedals at the moment. Does this defeat the whole purpose of having an analog path?
I don’t want to get into the whole analog vs digital debate but my take on it is that if it sounds good then do it. If you’re an analog purist then I suppose it defeats the purpose. I sometimes use a Korg M3 for effects and also Sonar. And in the end its all recorded digitally.
Some effects like delay can be run in parallel nicely. Then you can use your mixer like a wet/dry knob. I do this mostly to keep my band-mates off my back on the analog/digital debate.
What BaldEagle said 
(if it sounds good, do it). Also, there are some effects you cannot achieve (easily) in a pure analog way. Granular-based effects come to mind.