I have got Ableton live 8, which is slightly less in features than the live 8 Suite. That is why I am hoping to get the Live Suite soon.
I have already tried Fruity loops and Reason, but Ableton Live 8, really takes my cake.
Your computer has to have a minimum of 1 gig DDR 2 Ram to run it effectively.
A few other things you would need:
1. Novation SLMK 2 : This is the midi keyboard you need to control your Ableton software. There are other options out there on the market but none are sold in PNG at the moment.
2. Saffire 6 USB (made by focusrite) : This is an external sound card. There are other options out there but like the above, none are sold in PNG. It looks like a small mixer that you attach to the lap top. It functions to bring in other live instruments like your microphone, bass guitar, live drums etc
3. Akai professional APC 40 : This machine when combined together with Ableton live 8 and the other two above as well as your other live instruments, has no other equal in the musical world in my own un-professional opinion. It looks like a mixer but it works with the Ableton software with options for mixing down your recording, sequencing your tracks or other sound tracks together and playing it back either as live or mixed up like a DJ.
If you have the above set like I do, you are really on your way to cutting some good tunes even if you are doing it for home fun like I do.
If you are a solo musician who can play multiple instruments including keyboards, this software and accompanying hardware enables you play on your own and mix things live. The things you can do is unbelievable. Check out this dude who has got a set-up similar to mine: