[sDIY] idea? Multi-band splitter module?

[ADSR at aol.com]

This seems like such a simple idea for a module, does anything like this 
exist?  (MOTM, Blacet idea?)
Basically it would be:
3 or 4 Bandpass filters with selectable freq. range (VC controllable?) 
outputs for each band to allow for further processing.

OR Is this not the best way do this?:
It would be great to be able to split a signal into bands like a crossover, 
then run each part through different signal chains: like  send 70-200hz to 
distortion, 300-800 to say a phase shifter, 900-1200 to ring mod and then 
perhaps the next band to a different phase shifter... or any 
combination...etc... 
best,
phil