I am not sure if "daisy chaining" the two connectors will cause me
It could cause some confusion if one of your musicians need to use 2 XLRs or 2 ¼" jacks.
However another issue is impedance. Whilst low impedance balanced microphones are happy running over lengthy cable runs, high impedance unbalanced sources like guitar pickups ...
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Even Deadmau5 uses Ableton Live.
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