midi controller - IN 1
computer - IN 2
synths/fx chain - OUT A
More synths/computer chain - OUT B
I really don't use the computer for sequencing purposes at all though (that's what the mpc is for). More for interfacing synths, or trying out a software program through midi. When I need to record gear knobs and specific data, I just run a cable from the device's spare out to the IN 2.
I'm working on a program that will read a Nintendo Power Glove input and translate it into specified MIDI signals. It's like having a midi controller with 4 sliders (X, Y, Z, roll), and 4 buttons (fingers) all in one hand, plus a bunch of extra buttons that can be pushed by the other hand. Should be a great live tool.[/color]