So when they say 'line level', they mean 'mic level' as well, just no power amp ins?

There's got to be a better way of saying that...

BTW, can anyone confirm whether there is a clipping indicator or not? The smaller the gear, to be honest, the MORE need there is for these... It's unlikely any of us need to get so loud we could clip an SRM450v2, but an 8" powered speaker?

That needs it more than the Mackie...
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An arranger is just a tool. What matters is what you build with it..!