Vikki: the answer is yes. BIAB is easy for making backing tracks, it sounds cheezy but it can produce good results. It likely can't compare to your SD1 for backing track quality, but if you use BIAB as a starting point for creating midi sequences and do some serious tweaking, you can produce amazing results. A lot depends on your style of music - if audio loops suits your music better than you probably would do better with a program like Acid or Reason. BIAB is ideal for taking existing chord patterns (like you find in "fakebooks") and turning them into backing midi tracks with minimal effort. There is a free demo of BIAB available from
http://www.pgmusic.com/ so try it and see if it fits your needs.