Hi, can somebody tell me if this is possible with Cubase 5 and a Steinberg MR816CSX?

- Plug a guitar into the Hi-Z of input 1 and a mic for vocals into another input, e.g. 3 (to use an input on the rear) and THEN:
- Set up hardware and software in a way to use direct monitoring with the Rev-X of the MR816CSX on the vocal mic and monitoring through the DAW with insert FX plugins (NI Guitar Rig 4) on the guitar WITHOUT having to open the device setup to switch "direct monitoring" on or off?

I know I can do something like this with the Yamaha N8, by using the aux send for the vocals and the "wet" switch for the guitar. But is it possible with the MR816CSX? (I am about to buy either the Yamaha or the Steinberg, not sure yet which - since the sound is pretty much the same, I am trying to find out which has the better workflow for a composer / singer / guitar player studio.)