Almost all synths are like this. If your PC is powerful enough and you use a sequence/audio program and a good soundcard, then you can record the sequence combi track to .wav after you have tweaked it and you will have the orginal effects. Most tracks that you sequence will probably just have some reverb so if you sequence 15 tracks, you won't be recording 15 .wavs. I like to use my Piano program effects in multimode since it is a basic reverb and chorus.
I don't know how well it works but Cakewalk 8 has MIDI effects that you can insert in each sequenced track. I know their Audio effects need a powerful PC to take advantage of them.
www.cakewalk.com[This message has been edited by WS (edited 06-19-99).]