[el biciclista]

Produceher,
I don't quite follow your comment. The peak level I am talking about is the peak level indicator used during recording of the track. So, this (I believe) is showing the peak of the input signal during recording, not the output signal (unless I am really confused). In any case, the peak indicator is not the main issue.

I am asking if, every time I record a guitar direct-in signal, I will end up with a track that displays no waveform (or at best, a slightly bumpy line). Is there any way to "super expand" this track so I can see the waveform?

If there is no work-around, it is not the end of the world. But it is inconvenient, to say the least: I can't edit in the track, I can't spot glitches visually, etc. Just a pain, no catastrophe. I was just hoping someone else had encountered the problem and solved it somehow.

Thanks,
Mike