Hi James,
None of the recording is done in the Mac or a PC, it is only a control surface to run the editing software. Macs have always been the choice for music and film production work as most engineers preferred the Mac user interface, that in turn caused most if not all of the software manufacturers to develop programs for music editing mainly for the Mac, there isn't much editing/compiling software out there for a PC.
The recording is done in the drives of the Pro Tools system using their hardware, drives, and dacs. Some customers use outboard dacs (BDA-1) as an upgrade to the Pro Tools dacs.
Yes, the multi channel mix down is mixed to 2 channels for cd to hard drive but that again isn't done on the computer drive or utilizing any of the computer sound cards. That is all done at the Avid or Pro Tools level which is MUCH higher audio level than a sound card in a Mac or PC, the comparison would be 28B's to a Denon reciever.
Now, using a PC or Mac as a server controller for audio playback is an entirely different story. The audio quality for the most part would come down to the audio cards and compression ratios being used, either computer system would be about the same quality if they were using comparable cards and drives on both computers. The only difference at the actual computer level would be which interface do you like to use ?
In film and music recording/editing consider the computer as the control unit which controls the Pro Tools system which is actually the recorder and dacs.
I use Pro Tools as a generic term for digital recorders, there are other disk base recorders out there but 90% of the industry uses Pro Tools mainly because it works.
Regarding the NS-10's--they are not a great sounding monitor for stereo playback but in the Pro recording world they are a great reference tool.
Wavelab is a nice editing system and is written for Mac but it is not an industry standard. Most guys I know are using Pro Tools M, M Audio, Wave, and Cakewalk.
Hope that helps,
Craig
V/P Bryston