Starting the process with an arpeggiated bass line and then tweaking it, sure, I am totally down for that. Any source of inspiration is good. My point about arps (arpeggiators) was really about not using an arp to generate the whole bass line for you. I do not know of any arps that are specifically coded to generate bass lines or progressions, and certainly none that will accent, slide, and modulate the bass line for you.
A personal opinion that may be unduly influencing my perspective: I think that bass parts (for string bass, electric bass, tuba) written for classical, polka, jazz, etc., that are arpeggios simply sound pretty bad, and at best predictable. It is like the composer writes the bass part last, or thinks that bass is unimportant melodically, or basically has little clue of what to do.
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