Ermm, no, no and.. No. Sorry!
These chips just aren't designed for something like that. The record and playback functions are mutually exclusive, unless you get into daisy chaining multiple devices. That's not really what this project is all about.
The sample rates are not too bad really, once you start putting a little crunch on the amp it's going to sound pretty much ok. The only thing that really suffers is the high frequency response or lack of. That said, because the chip dulls the tone of the recorded sound, it helps it to sit back in the mix much better, which enhances the illusion of two different players.
You're welcome to design a looper that satisfies all your criteria, just don't think of using a winbond chip. That's going to need some memory chips and some complex microcontrollers. Check out Manecloopers, then compare his products and you will see it's not really in the same league. It's like comparing a Ruby amp to a Flextone.
Yeah Pete, I spoke to Z about that a while ago after he posted his stuff. I understand the theory of doing it, but i'm not going to for two reasons.
Firstly, i'm not stepping on any more toes, and secondly I don't want to deal with all the noise problems it's going to create.
I think it would be easier to just design in an FX loop.