Here are some of the features I would be interested in seeing implemented in plugin clip effects as well as the master section.
1.Ability to use multiple external gear plugins in the same chain within montage and/or master section.
2.Having the external plugin instance be able to be assignable to a specific piece of hardware or i/o and accessible from the plugin menu just like a plugin. If this were possible it would function just like a external routing matrix and would be as simple as switching the order of plugins is now.
3.The ability to name and save individual or chains of external plugs as the gear or output they represent and access in the plugin menu.
4.The ability to notate and save within each external plugin the hardware settings of the gear it is assigned to
5.Possibility of Mid/Side or parallel ability on the external plug where appropriate.
6.It should have a ping function to determine round trip latency and have the ability to save the finding as a preset.