For a long time I've wanted the ability to use outboard metering because it helps in mixdown efficiency. Max for Live used with TouchOSC for the iPhone and iPad is an immensely powerful combination and allowed me to make the outboard monitoring that I've been wanting. The benefit is mobility. If you're working or recording on the go, its a monitoring system that you can learn and take anywhere with you, or it can stay stationary in your studio. It works over Wi-FI and via a Thunderbolt cable. The project only works with Max for Live's capabilities, and it makes it incredibly smooth and efficient to use in big project files.
Within it includes peak and RMS metering, a spectrum analyzer with tweakable detail, a correlation meter, a left right balance meter, multi channel monitoring for up to 10 separate channels (for use in the iPad template only) and two types of spectrum analysis.