Can I ask what your setup is for multi-track recording using the mixwiz?
5-piece band with elec guitar x 2, acoustic guitar, vox, drums (4 mics, overheads, 1 snare, 1 bass drum) and bass guitar via a Radial DI. Guitar amps were miked and set up in adjoining rooms to my rec room and the doors shut. Acoustic guitar and vox set up in the opposite end of the room from the drums.
The1/4" direct outs of the MixWiz from each channel being recorded were sent to the 1/4" line inputs of my Edirol M16DX digital mixer interface. That way I can circumvent the Edirol's preamps and use the nicer (clearer) MixWiz preamps. The Edirol is not considered to be all that "pro" for recording but it does a lot of things well and when it was discontinued it was blown out for $299 by a few retailers. I couldn't resist. I found that it sounded very slightly better than the Edirol UA-1000 8 channel interface that I used before the M16DX.
The Edirol (because it's a digital mixer) can route a no latency headphone mix too, I just chose to do it on the analog board via an aux out and use the Edirol only as A to D interface.
The aux out for monitoring goes to a Samson Q5 ($30 bucks off Ebay) headphone amplifier which gives me 5 headphone outputs (all the same mix) all with independent volume controls.
With this set-up I was able to record 10 tracks at once for "live off the floor" recording. My DAW at the time was Sonar Studio 5. I now use X1 Producer.
The only tracks that were kept for the final mix from that session were the drum tracks and a couple of the DI bass tracks. Everything else was re-recorded later.
I think the benefit of this pretty common set-up was that we were able to achieve a live feel (even with a click in the headphones) but were still free to re-record parts to improve clarity because of the acoustic bleed from the drums etc.
Vocals and acoustic guitar were tracked later (replacing the live tracks), using my ART Pro MPA tube preamp (an older made in USA one) going through the ART Pro VLA compressor. I retracked bass also through the ART Pro MPA or a Peavey MAX tube bass preamp.
The lead guitarist re-did his tracks on his own home Cubase setup and I re-inserted his exported WAV files into the mix. It worked a lot easier than I thought it would.
I like having a good quality analog mixer as part of the set-up when doing multi-track recording and needing a lot of preamps. To me it's just easier and more intuitive. The Allen & Heath mic preamps are better quality than the "studio quality" preamps that were in any of the interfaces I've owned over the years. YMMV