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Could you elaborate FAB?

I was under the impression that you had to return the audio to an iLive digital input, and then switch the inputs from analog to waves… What you are saying is that I can process lets say 32 channels via iLive inserts, record the same audio from the insert out on the ilive, and then throw this audio back into the iLive disk via the insert return points WITH the soundgrid processing? This I have not seen in any of your waveslive videos, but it sure sounds great :D

How should I set up my soundgrid connections for this to work?