Yeah it doesn't look like a 550 upgrade. Seems more like a 350 with a mic input with a few other new features. I also noticed no pitchbend too..

Squeak
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GEAR: Yamaha MOXF-6, Casio MZX-500, Roland Juno-Di, M-Audio Venom, Roland RS-70, Yamaha PSR S700, M-Audio Axiom Pro-61 (Midi Controller). SOFTWARE: Mixcraft-7, PowerTracks Pro Audio 2013, Beat Thang Virtual, Dimension Le.