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I'm mostly a bedroom guitarist so not likely I'll be playing live regularly. I'm guessing the latency will depend somewhat on the computer in question? The latency isn't bad when I run it straight through without any effects but I guess as I stack them up and start doing looping and things like that it's going to become slower and slower. The problem is it's hard to test properly without the MIDI thing because I can't play and press keys on my keyboard at the same time. Unless I put the keyboard on the floor and smash it with my foot or something.
Pondering building myself a MIDI foot keyboard thing out of an Arduino, hooking my guitar up to a audio interface and running it all through Ableton Live or something. Then I'll just use plugins instead of a bunch of guitar pedals. Will it sound shit? Will there be too much latency?