External Interface: audio track limitations?

As the topic suggested I have a question, less on the workflow on which I feel more and more comfortable.

There exists an option in the preferences by using an audio-interface to expanding the numbers of inputs of my Live (mk1). I'm aware that there are issues like pops and crackles .... anyway the MPC would become some sort of digital mixer for me.

As I understand, in theory there could be 32 inputs (!) but only eight can be used with the audio-tracks or monitored via audio-tracks including FX simultaneously, the others are muted. Is this right?

thx for answering

have a nice day

With eight stereo audio tracks you could use 16 of the 32 outputs for audio tracks, and the remainder for drum tracks, keygroups, etc.

Thank you