Electronics Technology II: Digital Project Progress

I am currently in a digital electronics class and for lab I have to create a performable final project utilizing the things I learned throughout the class. I had two original ideas; a multi-effect/looper pedal or an onboard effects processing unit. This week I have come up with a semi-new idea for my project. I have decided to combine my two previous ideas into an onboard loop/effects module for the guitar. For now I am going to go for at least 5 individually triggerable/recordable loops which would be trigger via bottons embedded in either the pick guard of an electric guitar or in the drop-in electronics on an acoustic-electric guitar. In the future, I see this becoming a drop-in module available for all guitars with optional additions that would add effects and onboard effects chain modification. This functionality would require that all processing be done onboard. Currently, I’m not sure if the Teensy board can handle that kind of processing or if it has enough memory to store the number of loops I’d like so for now, I’ll have to run it along with my computer with a DAW like Ableton. In the future, however, I’d like to purchase a raspberry pi board computer and use that in place of the full desktop/laptop machine and write my own simplified DAW/processor to handle my application. In addition, it is likely to be necessary, if I do not rely on a computer tether, that I will need to implement and additional memory system and interface in order to save and access audio samples for the looper. If this additional work means that I only implement the looper, that is fine and I can leave the onboard effects processing for later.