I'm trying to understand if it would be possible (and, in case, what is the best approach) to build an "effect box" which could take an analog signal (from a guitar or a microphone), change it in realtime in order to apply some "audio effects" (from simple delay to complex time/frequency operations) and finally output it back into the analog world.
I know there are really powerful (and costly!) digital audio processors out there, but this it is some kind of home, spare-time project, and I'd like to take the chance to learn something more on the subject =)
The first thing I wish to understand is the hw support I should expect or add to it in order to get the sound sampled and then played.
Is it worth trying? Does someone has some insight about this? Any help is appreciated =)