dubdisciple
it's a feature I have always loved on Logic I hoped others would adopt.
It is actually better in S1 3.5 than in logic AFAICT. It is more like the hybrid audio engine in Samplitude. You do software monitoring (with plugins/instruments lower than 3 ms latency) with the audio latency of your audio interface and everything else is played back with an additional dropout buffer that you can set in S1. That dropout buffer eases the load on CPU and your audio interface, so that you can monitor with very low latencies while playing back the whole mix with a lot of plugins, even if they introduce a lot of latency. Nothing is bypassed except for plugins in the software monitoring path that have more than 3 ms latency.
If I was a DAW product manager I would copy a couple of other features of Samplitude. Of course it has its own flaws....