Okay, here are the results of my testing.

I created a RealBand file using a RealStyle to generate a number of tracks. I then picked one.

I started with Gain Nodes. After bringing various sections down to zero and then back up, I tried saving that individual track using the numerous ways you can do that in RealBand.

1. Right click on track, from popup menu select "Track, Save Track to File"
2. From the top line menu, select "Edit, Track, Save Track to File" (essentially the same as #1.
3. Right click on track, from popup menu select "Save Audio Track As WAV"
4. From top line menu, select "Render, Save Track to File"
5. From top line menu, select "Render, Save All Tracks to WAV Files"
6. Mute all the tracks except the track in question, the from the top line menu, select "Render, Merge Audio to Stereo WAV"

In all instances except #6 ("Merge Audio to Stereo WAV"), the resulting file does not honor the node settings. For #6, it does. Of course, even though my original track was a mono track, I ended up with a resultant stereo WAV file.

I then did the same thing using Volume nodes and obtained exactly the same results.

So, my guess is that the other methods to save a track (#1-#5 above) is to preserve the original underlying WAV file with no processing. #6, however, does honor the nodes so that the rendered down file contains the audio as you hear it normally in RealBand.

I don't know if this was intentional implementation, but it is clearly the way RealBand works.

Another test would be to see whether effects achieve the same results. So I tried it with heavy reverb (since that's easy to hear). I obtained the same results as with the nodes. I only heard reverb when I rendered using the "Merge Audio to Stereo WAV". All other means of saving the track resulted in the dry version of the track with no effects applied.

Hope that helps (at least answer the question).
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John

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