As a live looper? Not so much unless you’re lightning fast with insane timing and even then it’s a stretch. I would recommend the Boss RC505 or similar looping stations.
You can record WAV files while you are also playing sequences or song sections.
Set up the sequences or song sections you want to play, and start playback.
Go to the WAV Load and Record screen and configure the empty cell.
Push [Rec] while on the WAV Load and Record screen and the sequences or sections are playing.
Push [Rec] again if needed to stop recording. The sequences or sections will continue to play. If you have Rec To Play enabled, the pad will also start to play. Configure looping and other options as desired.
Managing WAV Files below.
After you record a WAV file, that file is available for use in other pads and presets as well. The WAV file is saved on the microSD card with a file name the same as the name on the screen with a .WAV file extension.
If you have the Tools setting RecToPlay set to ON (Push [TOOLS], then push [INFO] to see this setting), blackbox will automatically start to play the new sample when recording ends if the Length parameter was used for recording.
the 555 has been called the poor man’s MPC, it does have a live looper, only 4 bars though. It can overdub. So if you are live you have to remember to erase it to dub a new one, it really is a secondary add-on feature.
No pitching, timestrech really choppy.
Sound quality not all that bad actually, a compressed, bitey sound. It’s a quirky box with unique fx, but has been said there are many better options these days.
Not really , I don’t have the time.
You’d be best to dig into the specs and get a better understanding of why you need and the most suitable machine for you.
Lots on YouTube , read the manuals , try other forums , use google