I know another guy who played his guitar, hooked through his laptop, and when it came out through the speakers, it sounded like an 8-bit video game! It was insane. It seemed a little limited, like there was a bit of delay between playing and then it processing all that shit and then coming back with the sound... but only a superslight delay. So, yeah, if you could somehow take advantage of that.. well, just think about it. Think of the possibilities.
I've used a laptop in some Scissor Shock sets, but mainly for subtle backing electronics farts.
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