@kmanik if you're running delays in front of the JVM's preamp then unless you're running the amp's clean channel you will always get distorted delays. This can be a great effect but for clean sounding delays you would need to use a drive block in the Axe followed by a delay block and then run that into the JVM's clean..which would be a waste of the JVM's drive channels!!
I run a JVM 410H in 4CM but i keep my post fx in parallel with the amp's dry send using an RJM Mini Line Mixer, and pre fx are switchable using an Effect Gizmo. No clipping or headroom issues. This avoids the constant A/D conversion of a typical 4CM scenario.
Anyway for my setup and for straight up 4CM with just the JVM and Axe there's a trick you can try. Use the JVM's parallel fx send as a send to the Axe and then use the serial/preamp return as the return, with the JVM's serial fx loop engaged (return only). If i remember correctly this bypasses the JVM's reverb but brings a hotter signal back to the JVM post fx.