I would guess that it is modded, but the only way to try it is to, hook everythign up, and record somthing. as for settings i think u can do either 16/44 or 48 sampling, so whatever you choose is fine, 44 would just allow you to transfer track and burn without resampling.
as for levels, umm set them at a show, cause every show is gonna be different, maybe not by much, but some. good luck, now get out and tape something.. peace.
matt