In reading the R16 info on the Zoom Japan site, there are some things that made me sit up and take notice (in a good way):

In its regular multi-track mode, record up to 8 tracks at one time and play back up to 16 tracks at once...all at 16 or 24-bit linear WAV format and 44.1kHz sampling rate.

As an audio interface, it supports up to 24-bit/96kHz encoding (also supports 44.1, 48, 88.2kHz sampling frequencies). Eight input channels and two output channels can be used simultaneously.

If using a sampling rate of 44.1kHz, the internal DSP effects of the R16 are also usable on your computer tracks (VERY NICE!).

A dedicated control lets you adjust the mixing balance between the DAW playback sound and the direct sound for monitoring.

The R16 comes with 135 types of digital effects for recording, mixing, and mastering. The insert effect consists of SEVEN modules with algorithms optimized for guitar, bass and vocals. In addition, TWO send/return effects are also available, so one can use up to THREE effects simultaneously. The R16 also comes with models of 18 different guitar amps and 6 bass amps. A combination compressor and equalizer effect can handle 8 channels simultaneously.

A USB flash drive or large-capacity external hard drive can be plugged into the USB 2.0 Hi-Speed port of the R16.

On-board file editing (for the recorder section) looks to be REALLY bare bones (probably assumed that one would do their editing on a computer): DIVIDE (the only file editing mentioned in the specs).

Effects: Algorithms: 9 (CLEAN, DISTORTION, ACO/BASS SIM, BASS, MIC, DUAL MIC, STEREO, 8 x COMP EQ, MASTERING); Types: 135; Modules: 7 for Insert, 2 for Send/Return; Patches: 330 for Insert, 60 for Send/Return; Tuner: Chromatic, Guitar, Bass, Open A/D/E/G, D modal

Metronome (no drum & bass machine on this puppy): Sounds: 5; Beat: 1/4 - 8/4, 6/8, Unaccented; Tempo: 40.0-250.0 BPM. The metronome sound can be sent to the headphones.

This has to be one of the most cost effective pieces of hardware that I've ever seen as a musician. Amazing! I'm selling some more gear this week so I can pre-order this ASAP!

Michael