Render in place

It would be great if you could render in place a stereo track down to a mono track, It would come in really handy for drums, I understand why programs like EZ Drummer are in stereo because of the FX but I would rather use my own FX and have the kick and snare as a mono track, also Trillian comes down as a stereo track and obviously I would prefer it if it was mono. I would also like to be able to pan my mono track to either left or right instead of having it locked into one side or the other