I wouldn't want to change the pad based editing, much less replace that with menu diving. But there is room for improvement, and its name is "a screen."
I mean, let's be real. The printed text by each pad is much smaller than my decrepit old eyesight can deal with. So what if, upon pressing a button, the associated parameter's name legibly appeared in front of me? Same workflow, improved visual feedback. I feel like that would increase my speed and confidence. Don't you?
Sure, maybe not having a screen lead to stronger design decisions. But you have to know a screen wouldn't unmake those.