No, the SQUID is not a replacement for the ERM if you're trying to sync external hardware to the grid in Ableton. The sync is fine between hardware but when you try to integrate a computer, you need something like the ERM, SyncGen, etc to keep things in time with the grid.
Pionerr Toraiz Squid - Ableton Midi Sync
Just a question about the midi clock in the Toraiz squid...Im currently using an ERM Multiclock to sync all of my synths and drum machines to ableton...will the squid suffice as a replacement to the ERM multiclock? how tight is the sync with ableton on the squid ??