The Rytm will (according to the manual) normalize samples, which will do what you say. You will however loose some bit depth (the amount of discrete levels per sample) in this process, resulting in a slight reduction in fidelity. And as you say you will not be able to monitor at the normalized level, as it’s a post process after sampling. In addition the signal to noise ratio will be lower if you are not utilizing the full input headroom.

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