For speed of loading, I wouldn't bother with 16/44 stereo .wav.... Try stereo 16/22 if the T2 supports it, or mono if you use a mono PA. The trick is to find a good loop. If I remember rightly, the small club was a couple of independent loops (applause and yells and whistles) that never sounded the same. Best of luck making one loop work!
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An arranger is just a tool. What matters is what you build with it..!