if the intent is to capture the audio as purely as possible, routing
the signal back out through the digital to analogue converters through
an inexpensive eq device which adds noise (just listen to it with no
audio signal running through it, noise) and phase shifting, then back
through the analogue to digital convertors adds lots of slight
coloration which you do not control.
some of the eq plug ins are not concerned with phase relationships and
just giving the "sound" the artists want.
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