'How Far' - in my scenario - would be whatever is needed to do the gig and make up for gears not there due to circumstance.
For example, I imagine at a concert hall with only 24 SM58's - that you wont do EQ in that box - you would rely 'on the room' and mic placement. But you would need limiting and a very basic mixer (just to mix levels, no inserts or send FX) in order to get a stereo mix from 24 mics, and maybe just master bus comp and yes maybe phase correlation meter to help mic placement.
All good, but there´s no word about whether you think of using it standalone or not.
When connected p.ex. to PCI cards and/or XITE, you´d have the buss, the buss compressor as well as the stereo master in the SCOPE environment, in fact a full featured mixer which doesn´t force you to use aux FX and/or insert FX,- but you can if you want.
If the machine works standalone, I agree on the submix- and bussing/summing- features though.
I mean, you dont need reverb because your already in a hall isnt it ?
No reverb, no phazor, flanger, chorus, pitch shift, fuzz, OD or ringmod,- and no bit crusher too !
I´m out ´til thursday now and wait what happens ...