Which default media format is the best (default) to use in Reaper?
There are options for 24-bit int, and 32-bit floating point and other higher and lower formats. There's choices for gluing items and choices for project rendering.
If I choose 32-bit floating point is that a waste of space and processing?
I used to have it set at 32-bit floating point but I recently changed it to 24-bit integer for everything thinking maybe it will make projects a bit more efficicent. There's also an "automatic" setting, but I have no clue what that does.