Here's a clip I did recently using a lot of the functionality described in some of these posts:
http://youtu.be/Eq2lSR7-rME
Sorry the screen is difficult to see, I actually had a screen recorder going as well, but for some reason it decided to glitch out while recording two screens at once so I couldn't use it in the final edit...
But basically, Reaper and Mobius work extremely well together.
First, if you simply right click on the track section next to the main timeline, do "Insert virtual instrument on new track," select mobius, and reaper will automatically have one track as the mobius host track, which will be set to receive and record midi data, and an additional 8 stereo (I have not experimented with mono yet) tracks added that will receive the output from whatever plays through the 8 individual loopers that are default in mobius.
So then from there, you set whatever track you want to record audio from to send to the Mobius vst track, then select one of the 8 stereo pairs to send it to for the individual loopers (think they default to stereo pair 1/2, so if you don't seperate each input, it will send to only the first looper in Mobius).
Also, it is important to note that until the loop is complete, Mobius will not output sound to the channels, this is because it outputs the playback only (as far as I can figure anyway). So, to solve this, for live recording purposes, the tracks used for inputs that I routed to the loopers in Mobius, I also routed them directly to the outputs that Reaper created for Mobius and then disabled the master/parent sends on all of the tracks so they only output through the Mobius outputs. This way, those tracks set to record will record the input from the individual tracks, as well as their respective loops from Mobius.
Actually, if you notice in the video, right after I finish recording guitar, I mute it using a button on my nanokontrol midi controller, because it is the only instrument using a condenser mic, and since the sound is still being routed to the same output as the looper, the ambient noise from the room was messing up the mix...I'm sure that could probably be automated in some way, too
But in Mobius, instead of using a "stop loop" function, it "mutes" the loops, so it's continuously playing, just not outputing sound, you can tell on the tiny screen, the loops are in blue when I mute them. I believe there is a way to quantize the muting and unmuting, or I know there is, but I haven't experimented with it yet.
Speaking of quantization, I'm using reaper as Master tempo, and Mobius as the slave, set the tempo or sync to "Host," and set the clips so that they do not begin recording, or stop recording until the beginning and ending of measures (cycles), respectively.
Hope this description and video help some people out who stumble across it
And just so you know, everything in mobius is easily midi assignable and mappable once you get the hang of it...you just might run out of buttons to assign after a while...so yeah, keep it simple when possible, because it can get way to complex if you keep going down that rabbit hole..it's got me looking into scripting... =X