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002 and older plugins?

Member for

21 years 2 months
does the 002 work with older plug ins (for example 001 plugins?) AS well, is a g4 867 adequate or should i get a 1gig processor?

Presently about to set myself up with a mixing station---digi 001 or 002 system with Mackie hr 824's and i'm trying to figure out what is best?

Anyone out there have this configuration and what is there mac setup or recommendations?