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Those interpolations are what I meant by lossless. There are obviously frequencies which get lost, but since they are inaudible frequencies the whole operation can be considered lossless (ok, you can get interesting artefacts around those very high frequencies, but both 44.1 and 48kHz have quite some margin over even the best human ears).
The digital waveform isn’t a stepped wave, it’s a lollipop graph. It is so easy to forget that there is only one analogue wave which fits the lollipops, here isn’t any (audible) information that isn’t encoded on the digital waveform…
However in the QU we work at a fixed 48kHz – this makes the internal operation nice and simple, which brings the price point down to the price we paid…
There is a cost to resampling, and we didn’t pay it. We have had a bonus in terms of stereo USB playback from different sample frequencies and bit depths – but I would suspect that we simply don’t have enough cpu in the QU to cope with resampling all the inputs…