Hey there, sorry that no one has answered this yet.
I have a 414, so I think I can be of help.
1. Can you only bounce if you record using the L and R way of recording, as opposed to direct recording (1,2,3,4)??
That's correct. Direct recording always records the source from the channel's input jack directly to that track. During bounce mode, you're combining sound from the tape---not from the inputs. Well, technically, you can also record a live track through an input while you're bouncing, but you'd still have to be using L or R recording mode. PAGE 26 IN MANUAL
Let's say you want to bounce tracks 1-3 to track 4. You'd put tracks 1-3 to "tape," pan them all hard right, and adjust the faders for the balance you want. On track 4, you'd switch to "record R" mode, and you'd press record. If you wanted to add a live performance to track 4 along with the bounce, I'm pretty sure you'd plug into track 4 and pan track 4 all the way to the right (so that input source is sent to the R buss along with tracks 1-3), and then hit record, playing along with the material that's being bounced.
2. I cant seem to get any of my tracks to pan once they are recorded, using either the L and R way, or direct recording.. is there a way to do this?
Once i learn how to pan and i want to import to my PC, is there a way to retain the panning?? or does it just all even up if I use a Y cord to plug into the mic imput of my comp??
I bet that's frustrating huh?

How are you monitoring your tracks? In order to hear the panning, you need to be monitoring the main mix, and you need to be doing it by setting the track's "input" switch to "tape." If you're monitoring by listening to the tape cue/eff 2, you won't be able to hear the panning.
The tape cue is a mono mix.
So, let's say you record a guitar on track 1 (either by plugging into and panning channel 1's input left and setting that channel to "record L" mode or by plugging into channel 1 and setting it to "1" mode). In order to here the pan, switch the record function to "safe," and set channel 1's input switch to "tape."
At this point, it depends on how your monitoring system is set up.
If you're listening with phones or using the L/R "mon out" jacks to feed speakers, then you need to
push the "L-R" (which basically stands for "main mix") switch next to the monitor knob (to the left of the zero return) and
turn the monitor knob up, which acts as your volume.
If you're using the "line out L/R" jacks to feed speakers (or to feed a 2-track recorder that, when in record mode, feeds speakers), then you don't have to mess with the monitor knob or the "L-R" switch in the monitor section.
You'll hear the pan as soon as you set the track's input switch to "tape."
When mixing to your computer, you don't want to use the mic jack. That's a mono input, and you will lose your panning if you do that. You want to
use the "line in" jack. That's a 1/8" stereo jack. You'll need a cord that goes from RCA L and R to a stereo 1/8" male jack, like this:
http://www.radioshack.com/product/index.jsp?productId=3452165
Or, you could just run a standard RCA cable from the 414 and use a Y-adapter that has two female RCA jacks and one male stereo 1/8" jack, like this:
http://www.radioshack.com/product/index.jsp?productId=2103225
You have to make sure the 1/8" plug is stereo though. When it's stereo, it'll have two little lines on the plug, like the ones above. If you get one that's mono, like this one, it won't work:
http://www.radioshack.com/product/index.jsp?productId=2102673
3. Can you add effects after the track is recorded or does it have to be while the track is being recorded??
Yes you can add them afterwards. The most common way to do it is by using the effects send. The 414 has two of them (though the second one can be used for the tape cue instead).
PAGE 27 IN MANUAL.
Run a cord from the "effect send 1" jack to the input of your effects processor. Then run the L and R output of your processor to the 5-6 stereo input by using a stereo Y adapter, like this:
http://www.radioshack.com/product/index.jsp?productId=2103869
(Again, notice the two lines on the jack, indicating it's a stereo jack.)
You then turn up the "effect 1" knob on whichever channel(s) you want to be processed with the effect. For starters, set your processor's input and output knob in the middle, and the mix knob fully on. Back on the 414, set the 5-6 Level knob at about half way up. As long as you're monitoring the main mix, you should hear the effect.
If you're only planning on using one processor, you don't need to use the Y-cord adapter. You can just run the cord from the L output of the processor into the 5-6 input and the cord from the R output of the processor into the 7-8 input.
Using the effects send like this is very common because you can apply reverb, for example, to all 4 tracks if you want, but you can adjust how much each track gets by turning the channel's effect 1 knob.
Have fun!
