I'm a recently returned DP3 user with a G4 450mhz system (yes I know what year it is

So everything is working great.. but studio is currently in disarray as i reconfigure things to work with my networked MOTU MTC AVs (16 in / 16 out woot!)
my question though is that I would like to be able to record dry performances into the DP3 DAW and then using the 828 route that dry audio out to outboard effects I have and record them back into the song..
It seems like it would be fairly straightforward but then I get to thinking about latency and wonder if DP3 would be smart enough to somehow compensate for the new latency (sound leaving the 828.. then through an effect and then back into the 828 on a new track.
I'm looking forward to experimenting with it but thought I'd ping the experts here to see what people think.
Thanks!
Caleb