Originally Posted By: Thunderthud
Yes, but... That would turn a ReaLTrack into an AudioTrack (.wav), and take up more space and create an additional file.

Exactly, you don't need all these wav files, most of the destructive Audio Edits can be made non destructive same as the Vol automation thus not writing the RealTrack data to wav files. You want to be able to copy any RealTrack/Drum data to any other track without creating new wav files, "Look Ma No WAVs".
This is the same way modern DAWs work.