Ok after a couple days with the new DJS-1000, I can say the Toraiz SP-16 cats have nothing to worry about or should be mad. They have a production tool and this is a DJ tool. These are my known difference so far, I do not own a Toraiz but I read its manual and asked other Toraiz owners for feedback and I gathered up the differences.
1)DJS does not have Song Arrangement
2)DJS does not have a 64 sec sample limit.
3)DJS' internal memory does not write, READ ONLY.
4)No fancy Dave Smith filters.
5)If space is a problem, the DJS is fatter and taller than the flat Toraiz. Its actually 12% smaller than an MV8800

Other than those differences, may be more, I really love this sampler, perfect for the Boom Bap. Yes its limited but I enjoy sampling and churning out beats to nod to. Will not replace the MPC Live though, DJS-1000 is built for DJing and mixing while Live is a full production tool, apples and tomatoes imo.
Final verdict:If you got money to burn or selling old gear for something new, the DJS-1000 will not disappoint a seasoned veteran of the 16 pads. However, if you looking for an essential device for your production and limited to funds, save up for an MPC Live instead because the DJS will be limited for you in the lab.