The Logic Off Topic list

I am totally confused at how I should set up my studio.  When I first 
bought Loigic one year ago I had all my synth and mucs plugged into a 
Mackie 32 channel/8 buss mixer.  I also used outboard effects on aux 
sends like the Yamaha REV500 and Lexicon MPX100.  This way I recorded 
all audio into Logic using outboard gear and only used Logic's 
plugins AFTER the audio was recorded as a wave file.  This worked ok, 
but instead of writing down settings and wasting all of Logic's real 
time effects, I re-wired my studio.  This time I have all my synths 
going into my Mackie 32:8, I have the 8 buss outs going to a Digi001 
8 analog in, and using the Logic mixer and its effects all in real 
time.  The Digi001 works great for this as it is real time.  I 
enabled Software Monitoring and always have to "Record Enable" an 
audio track in order for me to hear everything after it's passed 
through Logic and back out the Digi001.  I have the 001's 8 analog 
outputs going into the Tape Returns of my Mackie mixer.

Hopefully everyone understood what I just explained.  My question is 
whether using this "software monitoring" method and all of Logic's 
real time effects is a practical thing?  Or is it better to use all 
outboard gear off the Mackie and only use Logic's effects after 
everything has been recorded into the computer?

Thanks,

Mark