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New Apple Loop/Music software

Loopers,

    I was too busy last week and I kept thinking someone else was sure to
post this but Apple has released a music/loop program called Soundtrack.
This is a music program which uses Apple Loops (whatever that is), Acid
loops as well as Wav and aiff files and has loop editing and uses effects
plug-ins. The price is $299 and minimum system requirements are a 500mhz g4
and Jaguar (which excludes me at the present time). It looks like it might
be more of a studio application than a live/real time program, but it's 
hard
to tell from a few screenshots, etc. I wonder if this has anything to do
with Apple buying eMagic last year. The link to the sight is below.  If
anyone finds out more please post it here!

http://www.apple.com/soundtrack/

Ed Drake