Does this modem have its own on board processor, or is it Windows based?

Yes, this modem has an on board processor and is Not a WinModem.

The MultiModemZPX data/fax modem is ideal for telecommuters and SOHO users. It includes a built-in processor to enhance performance and data throughput. It also provides an increase in upload speeds and quicker connect times than traditional V.90 modems. And, with V.34/33.6K fax and Error Correction Mode, it can reduce fax transmission time by more than half when compared to traditional fax modems.