Check out Auria. It's a 48 track DAW for the iPad that can record up to 24 tracks of audio at once and that accepts third party VST plug-in effects that have been converted to iOS format. I read that it was programmed in machine code to accomplish this.
Check out the video at the bottom of the page.
No sequencing available but I'm sure that's coming as these things get more powerful.
Auria and Aria. Has a sort of ring to it.
http://www.sonicscoop.com/2012/07/20...now-available/
Phil





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