[adam]

As someone with experience with several sequencers, I'd say Live is where it's at. True, the arrangement view is somewhat simpler than a lot of dedicated sequencers, but it's %100 sufficient for most needs (I've never encountered any serious deficiencies).

I'd put it this way: if you intend to sequence orchestral-type compositions, you might need Cubase. Hip-hop or dance music, I think Live is a much better choice.