The exported file will be saved as a AAC/m4a file using the selected settings for speed, pitch, mix etc.

The file will be stored in the "Other Songs" folder if you select "Export to Device" so that you can move it over to your computer using iTunes.

If you have the loop button enabled only the set loop will be exported, else the complete song will be exported.

The exported file will be not be saved on the device when selecting "Export and Email".