PAUMME, Processor Audio Unit - MME, has been released. It offers you the possibility to turn your computer into a real audio processor very quickly and without install any drivers.
PAUMME provides Delay, Low filter, High filter, 6 EQs, Low and High Shelves on each channel. Presets can be saved and loaded.
This application works on Windows and use MME to read and write stereo audio signal on the computer input and the output.