Ableton has announced Live 3, a new version of its popular sequencing instrument for Mac OS 9 and OS X. According to the company, the new version “brings a new world of possibilities to your compositions, loops and samples by giving you control inside of the sample.” Among the new features are Clip Envelopes, which extend Live’s “elastic” approach to audio by allowing you to achieve endless variations of a sample. The new version will also offer MIDI key ranges, velocity sensitivity, a new Legato Mode, a new Consolidate command, new effects, and more. Abelton told MacMinute that Live 3 will be available on or around October 15 for US$399.