Hi,
If latency is not a big problem for you, you can use ReaStream between to instances of Reaper, or with Reaper and another host, one using Zylia's driver for recording and the other one your PC driver for monitoring.
By the way, I don't find it really necessary to do realtime monitoring (in binaural I suppose) since we have no way to adjust the ZM1 input and the recording...
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