Currently MIDI beat clock output is sent to external devices at the same time as the master clock. As I understand it, external hardware that is configured as an “External Instrument” receives MIDI control from Cubase ahead of time from the master clock (part of the automatic delay compensation) and is returned in time to be in sync when monitoring the incoming audio.
The problem with this is that an external device that needs both MIDI beat clock for sync and MIDI control from an “External Instrument” track receives the both signals but with different time references.
Ideally you should be able to send MIDI beat clock to a specific “External Instrument” plugin and it’s timing reference to the master clock should be relative that specific track’s MIDI pre-delay.
Am I crazy or has anyone else run into this problem? 