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Since very few others picked up on the point, i'll reiterate:
Mixing may be another story, but for tracking a great sounding room is the piece of "gear" that will set aside one studio form all the others. You can always shlepp in all the outboard you can carry, but you can't do anything about a low ceiling.
For the same reason, I get a tremendous amount of bookings because of my grand piano. It's conceivable to bring one in as a rental, but that's usually out of the budget for my level of clientele. That's why i get lots of referrals from other studios who don't have a great piano.
So the critical gear comes down to that which can't easily be dragged in: the console, the piano, the room, etc.
I would have to add that in these days of artists studio-hopping from place to place even while working on one project, the more formats you are able to handle (tape, pro tools, ADATs, etc.) the more clients you can accomodate. I know I've lost business because I don't have tape, but also gained business from other studios that didn't have Pro Tools.
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