Thanks Martin. Render in place sounds great, but as I said, I’m on Cubase 5 so I don’t have that option. Nor am I routing VST audio anywhere. The way I’m set up, the Yamaha synth shows up as a VST, but the VST doesn’t actually produce any audio… audio still comes directly from the synth into my audio interface. I did manage to get a Cubase VST (Halion) track to freeze and produce audio from the freeze file, so that pretty much answers my original question.