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He said that research showed that some blocks should have their coefficients updated more often than others.
He said that rather than update 1024 coefficients each time a new sample arrives, just update 128 coefficients when a block of 128 arrives.
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The Quadrature Mirror Filter (QMF) stuff is probably in Vaidyanathan, "Multirate Systems and Filter Banks".
Performing this type of division of the filter makes sense when the processor implementing the filters cannot just brute-force implement the filter.
Given that you have 1000x more processing power, you should first check that the brute-force approach is not the 'best' approach.
Cheers,
Dave