Ableton today announced that it is shipping Live 2, a major update to its popular sequencing instrument for Mac OS 9 and Mac OS X. The new version, which was announced last month, offers several enhancements to the application’s performance and jamming features and also adds multi-track recording and editing with “Elastic Audio”. Other new features include advanced automation handling, DJ-like cross-fading, relative Session Mapping, tempo and transport controls can be mapped to MIDI /Keys, presets to save and recall effect settings, and two new effects: Gate and Redux. Live 2.0 is available now for US$399. Upgrades from Live 1.5 are available for $89 for the boxed version or $69 for the downloadable version.