I have now set up my FCB1010 in the way I envisioned, and it took quite a lot of work, but now I'm very satisfied with it.
Out of the box, it works as expected, but configuring it is unintuitive and laborsome, and you don't have that much flexibility for what the buttons can do.
I ended up ordering a third-party non-official firmware which fixes the "software" part of this product, and with that I can now program the MIDI functions in a programming language. This was the definitive solution, and now my setup is very flexible, with features like "trigger" mode for the preset buttons, or "sustain", which as far as I understand are impossible with the official firmware.
Regarding the hardware itself, I have two minor complaints: (1) in a silent room, you can hear a hum from the FCB1010 whenever it is turned on, (2) there seems to be some mild "glue" on the expression pedals such that you can feel some stickiness when the pedal is on the extreme bottom or the extreme top.
All in all, not a perfect device, but definitely has opened a whole world of possibilities when performing live and when you're hands are busy with a musical instrument.