http://www.jambient.com/

Jambient is a mixing software for spontaneous improvisation. It’s a tool for DJs, electroacoustic musicians, and for anyone who wants to create music on their PC.

Jambient uses a joystick to sculpt sound in 16 channels simultaneously. The result is unlike any other computer based musical instrument – a way to create sounds live – from the DJ booth, onstage or at your workstation – that would be difficult or impossible to create in a studio.

Jambient comes in two versions:
The full version is trialware, giving you 30 days of free and fully functional use after you first run it. It lets you mix 16 LoopTracks, takes advantage of twist functionality on 3-d joysticks, has more Sample Bins, lets you manipulate Bands of LoopTracks, and has cool scripting capacities.

jambientFREE is a freeware version that only lets you mix 4 LoopTracks, has a limited number of Sample Bins, and doesn’t have the features listed above.