Almost. Think of the Ext. Instrument device as allowing you to convert your external synth into a VST synth in a sense. MIDI Out and Audio IN from a single rackable device. You will now be able to monitor the incoming audio from the synth on that channel but it is still a MIDI Channel. So if you hit record on the Ext. Instrument channel it would record the MIDI data being sent by Scaler2.
Just as you would with a VST synth, you would still need to create an audio channel to record the audio from that external synth.
It’s definitely the more elegant approach. Advantages being…
MIDI To and Audio From your external synth in a single device and on a single channel.
Racking - you can rack your external instrument into an FX chain… with MIDI FX before… and Audio FX after. You could set up macros in the rack to those FX.
Portability/Recall - You could then save the rack and recall it quickly in any project or move it to any channel.
In the hypothetical setup in this screenshot… if you were to send notes to Scaler2 and hit record on all 3 channels you would record the following on each track…
1 Scaler 2 (MIDI) = the MIDI data being sent by your external MIDI Controller that is triggering whatever you have set to bind in Scaler2.
2 Ext. Instrument Rack (MIDI) = MIDI data being sent by Scaler2. Those notes would be manipulated by the Arpeggiator Device, then out to your your external synth, its audio coming back into the device, then passing through the Spectral Resonator. Additionally you could send that audio to your aux sends from that track as well.
3 Audio Record Ext. (AUDIO) = the audio output of the rack on channel 2.
