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Hey Fredrick,
the limitations of the system are the 64 busses. This means you can record and process the 64 channels simultaneously (ie 64 processes AND 64 recording). When it comes to playing back, you route the output of the daw to the host multirack and job done.
If you look at the signal path for such a system, the pickoff point for the processing is on the insert, so that signal gets then split to the daw and processing.
If you look at waveslive.com you can see what plugins are compatible with SoundGrid. We have 3 very interesting SoundGrid bundles that cover the whole spectrum of processes, from nice toys, to pure tools.
TDM is the license needed for SoundGrid.

Any questions, just shout out!


Geek and waves live product specialist