MooCowMusic has released Looptical, a full feature 24-track sample-based studio for iPhone!
Looptical iTunes Description:
Record your musical ideas on the go and mix them into a finished track, or use them as the basis for a new project back at your studio. Create looped sections of music and combine them to form larger musical sections until you have a finished song. Going from an initial riff idea to full track is easy with Looptical. Then mix the track with comprehensive effects and fully automated mixer controls, or export the MIDI and component audio tracks to your DAW when back at the studio to take your song one step further.
Play keys with a single or dual 128 key keyboard layout, complete with pitch/mod wheel. Use the Scale Keyboard to play scales effortlessly by sliding a finger up and down the screen. Strum your way through your own palette of chords with the Chord Guitar. Use the Latched Arpeggiator to turn simple chords into sequences of notes. Use Quantize to tidy up your performance, and Undo any mistakes.
Go From Riff to Full Song
Songwriting in Looptical involves creating Loops: building blocks for a song that could be a one bar bassline, an 8 bar chorus, or a 100 bar indulgent guitar solo. Use the Loop Bank to combine, merge, repeat, and insert these Loops to form larger riffs, and ultimately a complete song. Use the Event List to perform mass edits of notes, such as tweaking velocity, quantize or transpose.
Mix The Track
Add and mix up to 24 stereo tracks with Looptical's Mixer. Add up to 5 Insert effects (Overdrive, Bit Crusher, Compressor, EQ, Filter, Chorus/Flanger, Phaser, Trance Gate, Delay) to each track, and a single Reverb Send effect. All mixer and effect parameters are automated and changes are recorded directly into the song.
Add Vocals and Guitars
Record vocals with the iPhone internal microphone or compatible audio interface and add your own effects with live monitoring. Control input with an intuitive preamp-style gain and noise gate.
Interact with Other Apps
Record audio tracks directly from any Inter-App Audio (iOS7) Instrument app. Use Audiobus (requires purchase from third party) to send and receive live audio to other Audiobus-enabled apps.
Make Your Own Instruments
If the 95 keyboard and 50 drum presets (including 600 individual drum hits) are not enough, create your own from scratch. Import samples via iTunes Shared Folder, from another iPhone music app via the clipboard, or resample the current song. Effortlessly create an entire new instrument from a single sample, or add further samples for a multi-sampled instrument. Edit your sample to trim, chop, loop, amplify, fade or reverse sections. Export your instrument to use again, or even share with others via the Looptical forum.
Use An External Keyboard
Plug in an iPhone-compatible MIDI keyboard and you can break out of the iPhone screen and compose using a full hardware piano keyboard. Play drum parts by assigning piano keys to each pad, or effortlessly noodle a solo by playing the Scale Piano from the major keys. Assign spare MIDI controllers such as Pan or Modulation to directly control automation parameters in Looptical insert effects.
I had a chance to play with it this morning and I've been fairly impressed by the depth here. All 24 of those tracks can each have independent effects chains. Comparisons to NanoStudio are relevant, both in terms of its capabilities and price, and I wish it wasn't entirely sample-based. However nearly all of the stock instruments are multi-sampled, so you get a variety in your performance as you play through different octave ranges. Sequencing is done entirely by playing in your instruments, rather than with a piano roll or step-sequencer, which may be a deal breaker for some.