Michael,
Welcome to the list. I have perfect pitch, but I can't hear stereo due
to hearing loss; fortunately, Studio Recorder adjusts both left and
right channels at the same time, or at least it does for me. I don't
know a thing about loopback; haven't had to use it. To convert CDs and
DVDs I use extractor software; much quicker and more convenient although
it's not free.
Mary