RB can do it, BiaB probably can too, depending on soundcard.
BUT, why not just 'listen' to the effect while using it (and recording), but actually record the guitar track dry? Then you can use the same effect during playback. This way you can tinker with the effects later to fine tune them.
In RB the option is in Audio Prefs window; 'Use Input Monitoring', and 'record IM' are both checkboxes.
'Using' it allows you to hear it but not record it. 'Record IM' option records it.
Last edited by rharv; 06/09/12 01:14 PM.