No, because you can save a single bank, made of up to eight registrations, in the user memory. So, for example, you can program 8 different registrations for a song and save them under a name; then you can program another 8 registrations for another song and save them under a different name, and so on. The amount of registrations you can save is determined by the free memory you have left (in the beginning it's more than 3 Mb, but is shared with the styles as well). Anyway, even when you are out of memory, you can still save registrations on a floppy disk or on the (optional) hard disk, just like the SD1 does.