Power distribution

I have a GT16, an old Amp Gizmo and an Effects Gizmo (v2) and am trying to sort out an efficient distribution of power. I also have one of those BTPA Phantom power cables with bidirectional MIDI. The 12v PS can supply 4.2A. So if I connect the DC connection from the power supply to a DC "Y" splitter, can I power the Amp Gizmo and the Effects Gizmo with the two open DC ends and get phantom power to the GT16? I believe there isn't enough current draw to tax the power supply, but the existence of parallel power and what that means for current draw gives me a brain cramp.
 
You'll just be adding up the current draws of all three products. 4.2A should be more than enough to power all of them. The Amp Gizmo is electrically isolated, so connecting everything together like that should be ok.
 
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