Well, like I said, I use an external converter box (
the Flying Cow) for monitoring. If you are mostly doing mobile work, are you rack-based? You'd have a place to put a half-rack deal like that...
My mobile rig is the 1624 and an Alesis Studio 32 for preamping/monitoring, and that goes straight into/out of the Fostex. I have no computer hardware at all in the road rack: location recording is not the time for the Blue Screen Of Death, in my opinion. When I get back to the studio, I just pull the disk carrier out of the road 1624, plug it into the studio unit, and fly the tracks down to Cubase via the Hammerfall. So my location monitoring takes place entirely in the analog domain, and my studio monitoring of Cubase stuff takes place via the Cow, which listens to the Hammerfall's SPDIF outputs.
I didn't want to compromise either the road or the studio units: the road unit has to be absolutely stone reliable as its primary characteristic, because the bulk of the location work I do does not offer the opportunity for a second chance. And the studio rig is set up for convenience, ease of use, and mostly _speed_ of use.
Like I said- I hate internal converters on soundcards. But you might not be able to get away from having them, in which case you'll have to compromise how many tracks you can fly down at once. Think very carefully about making that compromise, though: syncing up tracks perfectly is not as easy as simply pressing go at the start of the song. You'll need to develop the habit of putting slate/alignment tones at the start of takes, for example, so that you'll have a stable reference for checking the alignment...
To sync up multiple tracks flown in at different times, you'll need to make use of the MTC (MIDI timecode) out on the Fostex. At least it comes for free, so you don't have to worry about striping timecode and using up a track! You slave Cubase to the Fostex's timecode, and that will do the rough alignment for you to *subframe* accuracy: ideally 1/98 of a frame, or about 18 samples of uncertainty at 25fps. If you want absolutely dead-nuts perfect alignment down to the sample (which I suspect that you do), you'll then have to nudge the tracks manually the last few samples.
In the real world, that 18-sample inaccuracy is probably worse, because the MIDI hardware on the computer will probably not be perfect- there may be jitters or latencies in there that will let things move around a few more samples. Anyway, all that seemed like _way_ too much of a hassle for me to deal with: I'm basically lazy. So I just avoided the problem altogether by getting enough ADAT channels to start with.
Timecode was really intended for syncing sound to image (which can tolerate a lot of slop, really), not sample to sample. So I think that you may be making more work for yourself- but only you can make that call. Anyway, something like the Cow in a half-rack unit solves that problem.
Shoot, if you wanted to avoid having a separate box, you could even get something like an Audiophile 2496 and set it up inside the machine as a standalone A/D-D/A using its control panel (SPDIF to analog and vice versa, without talking to the PCI bus). Connect it to the Hammerfall's SPDIF I/O, and have it just do the conversion without actually talking to Cubase at all (since you can only have one flavor of soundcard, and that'd be the Hammerfall). I did this very thing at the beginning with my DAW: that worked fine too, but I just flat could not stand the digital noise down in my reverb tails- so out it went. That'd give you usable MIDI I/O as well, of course: Cubase _can_ talk to the MIDI on the Audiophile while routing the audio to the Hammerfall...
Your call, though. I'd check out the realities of syncing tracks before plunking the cash down: it may be less work than I think it is, and you might not mind it at all. Or it could drive you completely nuts and make you take up golf instead... (;-)