I would record the main phrase and assign to a static machine for playback (plays from CF card)
Copy it to a flex machine (plays from RAM) for pitching, mangling, slicing, layering.
If you want more than 2 FX on either machine, add a neighbor machine for additional FX.
Use a master track for reverb and compressor.
Still leaves you with 3 to 5 free tracks for drums and other elements 
If you need anything beyond that, use the 8 track MIDI seq for external gear, and bring it into the inputs for direct monitoring.
OT rocks so much for turning modular bits into great tunes. Have fun!!