Here's what Elektron have to say...
The Octatrack is designed to revolutionize the concept of sampling. Recording sounds is a breeze thanks to the intuitive user interface, but the fun really starts once the samples are inside the machine. Loops are now completely elastic. Cut up and rearrange them in real time. They will always stay in sync no matter if they are pitch shifted or if the tempo of the sequencer is changed. Single sounds can be moulded into any shape or form. The static nature of samples is finally a thing of the past.
The Compact Flash card allows for huge amounts of samples to be constantly accessible. The USB port is ideal when transfering sample libraries between your computer and the Octatrack. The optical fader can be assigned to any of the parameters, adding a wealth of live control possibilities.
Pricing and Availability:
Estimated release Q4, 2010.
On the fly arrangement of chords and melody