Yes... That's about it in a nutshell (again)!

You don't think for one minute the audience thinks you are playing the drums, the bass, the guitars, the horns, strings and synths all at the same time, do you?

You are the conductor of this band, NOT the player... And whether you 'conduct' this orchestra in advance (SMFs, mp3's) or on the fly (arranger mode), the audience is pretty much aware it's NOT all you... I guarantee that not one of them cares either way!

The only thing you'll get credit for, if you can make it flashy enough, is the actual solo part. And, in truth, that IS the only part YOU play, unless you use SMFs that you make yourself, or styles that you have created.

This is why I often use SMFs, even for tunes I COULD play in arranger mode. Want to give them something visual, that they can see beyond a doubt that YOU are playing? Give 100% to the solo and keyboard parts, use both hands, play like every other keyboard player (in a band) that they have seen... THEN (IMO) they 'get it'. It's YOU, not the machine that's playing that...!

At least once or twice a set, give them some flash, let them know who's in charge... you, or the machine
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An arranger is just a tool. What matters is what you build with it..!