With the update of Logic 5.2

Recording input signals with effects - Pre-processing (Logic Platinum, Logic Gold only)
Audio Input channels now process an incoming audio signal destructively: The input signal is processed by plug-ins inserted into the input channel. This means that once an audio input object is assigned to an audio track, it can be recorded, and monitored, with its effect plug-ins.

Example: To avoid large jumps in level it is often useful to record a vocal track with light compression. To do so insert a compressor plug-in into the input channel and assign the input object as the input of an audio track. During recording the effect of the compressor is recorded with the track.

For this to function “Software Monitoring” has to be active for the respective audio hardware. Audio > Audio Hardware & Drivers > …

Note: To use the Audio Input object as a ”live input”, ensure that the Input object has an assigned Output. This allows monitoring of the Input object (with all effects) directly, without the need to assign it to a record-enabled audio channel.