Me, coming from classic Hip Hop would say it has a transparent sound, what you sample in will sound coming out. How can I explain it, the old MPCs were like Microsoft Paint graphics while the Live is pushing vector graphics. Sounds really good. I sampled straight in from a CD player without an eq or preamp in between and it was rich sounding. Now I do have a preamp in between and its sounds full and thick.
Also, you have options to make it sound vintage with MPC3000, SP1200 and MPC60 options.