Rounik, thanks for the response.
I have used Bounce in the past in much the same you describe, eg., when reaching the end of a project. However, what really prompted me to ask the original question was a comment by Martin very early in his Logic 8 101 tutorial. I've just tried to find it again and failed so I can't give an exact reference. But, as I recall, he is talking about the sine wave and says at one point "Okay, I'm just about ready to bounce my sine wave but . . . ". Now, at that point Martin hasn't really done anything to his audio file and it is one bar long. I immediately thought, why is he doing that?
Can you shed any light?