Can Wavelab sync to MTC or SMPTE ?

I need to record BWAV’s and record the incoming timecode position with the file - can Wavelab sync to timecode ? I found a reference saying that Wavelab 3 could sync to MTC, but I can’t find anything in WL8 - was it removed ?

Yes, this functionality is not anymore in WaveLab (no plan to add it either).

Your sig says you have Cubase 7, which has extensive sync capabilities and can record directly to broadcast wave file format, so that should work as long as you have suitable sync hardware. You can then edit the file in WaveLab later if you wish.