[lode]

I assume the audio files are converted to whatever the session uses as they is lifted into RAM?

I get a feeling AVID thought:
What happens if we preload all audio into RAM? What is available to us then?

And suddenly we have realtime fades, premixer gain, and support for different audioformats. (possibly it also opened for AS with handles)

All of which are fantastic things. (Well, the gazillion fade files never bothered me much...)