[citi]

You are correct. You can do everything in this little box but record external audio. I have one and love it. As far as the mini, I thought about it too but than realized that I don't bring my guitar when I travel and I'm not going to bring my 1000$ mic just to see it break on accident, plus my good preamp is in the studio. The thing is so small I take it everywhere. I save the real tracking for the studio.