Here's a guide on how to record wet and dry signals using a POD Studio UX2 or a Toneport UX2 with POD Farm and REAPER.
Please watch this video in HD and at full screen size so you can see what's going on.
LINKS:
http://www.free-codecs.com/download/Lame_Encoder.htm Download the zip file, then just extract the lame_enc.dll file and save it to C:\Program Files\REAPER and restart REAPER.