Reason can handle wavs and aiffs, among other kind of files, with the NN-xt. i have heard a lot of users talk about the problem that this mean.
It seems like no many people can the NN-xt to work. I suggest, before you think everything is lost, check the length of your files (wavs, aiffs, etc.), its kind, and its bit rate.

The big thing is that reason can't handle analog audio directly. I mean, you can connect your guitar in the computer, but you never will ear it across reason. Understand: reason can't to record your guitar.

In other hand, reason offers you a lot of sounds that could effort your acoustic-electric productions.

I talked about rewire. This proppeller head's developed technology works in this way: you launch your master program, any other than reason, and then you launch reason —that works in slave mode ever. Reason can't behave itself like master, it isn't developed for that.

Reason dont works like other programs that supports xternal vst's, like protools or ableton live.

The things you can do with reason never take an end, the limits: just you imagination, your ram and your disk capability. You can mix amazing works with other way projects through other programs that handle both analog and digital (midi) audio.

I hope this can help you.

Darbo