Ardunio Due based Guitar Effects Pedal

Hi,

I wanted to ask about the feasability of a project I have in mind.
I want to design a effect pedalboard for my guitar with the Ardunio Due.

The electronic side (getting the signal from my guitar and making it usable for the ADC) seems doable

The problem I see is in the ADC himself.
First it has only 12 bits which probably would be enough for most effects but according to the documentation "It takes about 100 microseconds (0.0001 s) to read an analog input, so the maximum reading rate is about 10,000 times a second."

Which is quite low.
The hearing range of a human beeing is about 20k Hz, maybe 18k if you are older.
According to the Nyquist Shannon sampling theorem I therefore would at need least need a sample rate of 40k hz to capture the full audio data without any artifacts.

Am I missing here something?

Well, on this thread http://forum.arduino.cc/index.php?topic=137635.0 , they are talking about getting 1MHz read speeds. That should be plenty.