The Amp sims in the DG suite are just basic power amps. You can only switch between a bass and guitar PA. You can control the Drive, Resonance (which is particular nice with headphones), Presence and Volume. I would say they are good enough for the job by powering the signal. You can pick more interesting amp sims in your DAW.
Yes, just now because I got curious. I just did a very quick record on my DAI and with the Element. I set the Element with a sample rate of 44800 and a buffer size of 64 samples which has an input latency of 1.33 ms. That is quite good imo. I would say the choice of cab sims in the DG suite are amazing.
Only thing I noticed is that I had to put the PA master volume on 100 and the drive on 50 to get a decent input signal into the DAW. You can fix this in the DAW as well ofc. Hope this info helps @eric.kiser. I think the DG Element is an excellent piece of gear.