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It depends on what else you use;
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What do you mean? I don't use anything else. Just a mic and an MPC as I'm still building my studio..
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-You can use the optical as ADAT and still have your RCA SPDIF available for something else.
-You can use RCA SPDIF and have your optical available for ADAT.
-You can use the optical as SPDIF dut you will lose the RCA SPDIF.
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Will all of these yield the same quality?
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Remember you can't use two SPDIF's at the same time.
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Why is that? Lemix mentioned 2 channels of SPDIF. Is this not correct or is it correct, but I can only use one at a time???
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The AES will be used when you add a DAC, it will allow your DAC to hear the ADC while it feeds a signal to the 001 without monitoring through the 001's converters.
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Thanks for the insight. Though the D/A will come later it's really nice to have all of this info in one place.