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Looperlative/midi sync/cons?

Alright, finally going to drop some cash and get the lp1.

1) I want to run the LP1 as a slave to a drum machine. The ability to midi sync all of the loops is absolutely necessary. How is the midi sync?
2) I've read that you can run up to six loops in a stable manner, but that loops seven and eight get a little funky. That's fine with me, since Looperlative @ $1,000 is cheaper than six EDPs @ $600.
3) I can fade in/out, mute, multiple, etc. all of the loops, correct?

Are there any cons that I should know about?

I plan to sell both of my edps to pay for this, so I want to make sure the product is stable.