The way this works on the Ultralite MK4 is it connects over USB to your host computer, which connects to a wireless network.
From there, most any wireless device that is on the same wireless network can access the MOTU mixer. Device controls (saving/switching presets), Routing, Mixing, Aux Mixing, and a “Touch Console” mixer for touch screens is all built into that interface.
Yea, that’s definitely a concern. I recommend a used 8Pre Firewire as an ADAT side car. They run $125-$175, can quickly be setup as a standalone converter, and due to having both ADAT in and out, it can be clocked by the newer Ultralite MK4.
Every currently shipping MOTU interface comes with “MOTU Audio Tools” which consist of FFT/Spectogram , Oscilloscope, and Phase Analysis. Unfortunately these are Mac/PC only, and not ported to iOS.
This graphic will show you all the mixing capabilities. Groups and scene save are there (scenes are on the Device tab). Additionally presets for every processing component of the mixer can be saved and recalled (EQ, Dynamics, Gate, Reverb, etc.). The only thing I’ve not selected for view are the EQ knobs as they take a lot of vertical space. (click to enlarge)
Whichever you decide, good luck! Both are great products.