i have torq running on a white intel macbook 1.6 duo, and after the last free update it works great.
if you dont have a midi controller you can use the keyboard for mapping, but you can get the x-session pro for $99 so it's not too costly.
the latency is very good.
analog vs digital
I'd have to say it's so cheap because, for one, there's not much to it. There's a 4x4 audio interface, software and a couple records and CDs. The record technology is the same as Ms. Pinky, so they didn't have to invest in developing their own record tracking. They also save money by building a plastic interface box. I'd actually say that's the real weak link in the system. The box is plastic and not as robust as the SSL box. I won't be moving it around much so it's of little concern to me.