I can try getting some audio files up today. I'll just make one channel the 4/4 click and the other the guitar audio. I'll run the reverse algorithm as well the modechoverb.

I generally run: korg electribe -> space. All midi channels are set properly, as are midi receive / clock filter, per the manual. The sync is not horribly off, maybe 50-100ms at most. However, I do a lot of cascading delays / verbs / trems, so things start to compound.

I use a program called bidule, and it does midi monitoring. Is that what you have in mind when you say recording of the midiclock output?