I have an O1x.

it works for me but might not for you. Its has 2 mic pre's only. hi-z guitar input and 5 other 1/4inch jack inputs.

I use mine to process all my tracks running out of ableton. FX, compressors and Eqs are all on board. it acts as a mackie controller with sonar/logic/dp4/cubase and ableton(via mcc live) and soon reason.

I also use it live. Its more expensive than the tascam for sure... if you need more mic pre's its proobably better to get the 01v96 or at least get a decent desk to accompany the o1x.