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Actually it can be quite simple: The incoming stream goes into a tiny buffer (about 3 samples), the per sample mapping is looked up from EPROM, the output value is sent to the next thing.
The 22V10 is there control that process.
Yeah, i know that is unclear. But many other topics like state machines get involved quickly and i think trying to discuss them here may distract / bore others here. My real email is in the headers, Robert Baer and a few others have it as well.