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DSP KIt for Labview

Hello,
i need to develop customized distortiona analyzer preferebly using Labview DSP kit and some TI target board. I will highly appreciate if some one who has experience of LV DSP development, can answer:
1) can the large LV application will fit in few hudred KB of Flash on board ?
2) How much precision can be achived ? is this setup suitable for wiritng professional DSP code ?
3) Is it better to use Fixed point DSP or the floating point one for wide band precision audio processing ?

Thanks
-Ahmed
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