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5
Please note that you can save/load multiple songs per project, so there‘s no need for a one-song-per-project approach. The only downside is that you can’t save tempo with a song.
In general, it makes sense to use a single project per… project (what a surprise!), where a “project” can be a live set, EP, multiple versions of the same track release, a few songs you’re working on right now in the same style, or even a full album. It’s up to you, really? 