12 bits represents about 70dB of dynamics, which is pretty good for most effects. Having a simpler design helps keep the costs and risks down. However if we reach our Kickstarter push targets, we will add a high quality 24 bit external codec.
It runs at 168MHz and is capable of performing most operations in a single cycle, including floating point arithmetics and Multiply and Accumulate. At 48kHz sampling frequency it can perform more than 3500 cycles per sample. For reference, a 7-band EQ can be implemented on this chip using 299 cycles per sample.