I've used Behringer mixers before and this was an upgrade for me to use with a DAW, recording against backing tracks and my own tracks. I needed something which could not only accommodate sends and returns for pedal stuff but also something I could export and use into iPads, etc. I needed a good range of input and output options with plenty of channels. I also use different monitoring options and external studio speakers so for a home studio mixer that won't break the bank, this ticked all the boxes.
By directing channels to a sub mix you get very good control over the mix and although I don't use a lot of effects and like to have total control over them, the built-in effects are very good. You can't apply separate effects to individual channels but you can control how much of that effect is applied. With a combination of send and return loops, the built-in effects and the use of the sub-mix, you have a great deal of flexibility and control. I haven't yet found something I wanted to be able to do but couldn't with this mixer. I'm not a pro running a professional studio but a seasoned amateur and this kit is ideal for my various needs.
On the back you can take line-level output from XLR stereo, or the sub mix output from jacks, or the control room outs from RCA, or the main outs from jacks, a very flexible selection available. Monitoring is easy through studio speakers or phones. To convert the line-level output from the mixer into an iPad I had to use another cheap little Behringer gizmo, a U-Control UCA222, also available from here. It sorts the line levels.
It's easy to mix output from the USB from your recording software with overdubbing another track and I've had no problems with latency. Sometimes latency is down to the computer driver and I've only used this on a Mac which doesn't need a separate driver so it's worth checking if there are latency problems related to this mixer on Windows. I did a brief check and didn't see any that seemed to implicate the mixer so it sounds pretty safe latency-wise.
I've used it for a couple of months now every day and I'm very pleased with the flexibility, the quality of the sound, the ease of use, It's not the cheapest mixer around but for this money, it's very hard to match the features and quality with anything close. Highly recommended.