Is MPC 1k good for playing folk/electro/trance live?

Hi people, this might be a bit of a noob question, sorry if it's been answered already.

I've been thinking about getting an MPC 1k, I like to program hip hop beats sometimes, so it'd be great for that but I also would like to use it as a general kind of sound module for live electro and more traditional music stuff....so my questions are:

1.
What's the MPC like for just sampling, say, a dead cheap piano sound and playing it back live from a midi keyboard?
Then if you added bass,drums,+ extra synths (made from hits, not loops) would the polyphony/memory/whatever still behave pretty much ok?

2.
Is the arpeggiator on JJOS any good for doing electro/trance, can the MPC handle it in a live setting?

3.
This is a really dumb question, but take pity on me, I've never owned a sampler before...

The MPC can play back samples at different pitches, right? Like an old akai sampler with a midi keyboard attached? I just really hate those samplers that only allow you to play back samples with only one pitch..... What are those samplers called, `drum' samplers? `phrase' samplers? The MPC is better than that, right?



Thanks for your counsel

1. Yes.
2. I haven't seen anyone use the arpeggiator on the MPC.
3. Yes.

Really, this box can do Anything you want it too. Limit is only skill/imagination. I'm working on some Neo-Folk stuff right now, and some Baltimore Hipster Dance Tracks, and some Dark Metal. This box is truly whatever you need it to be. Some would say that that is too much of a blanket statement, and if you really want to take it to the limit a good DAW is a big help, but truly, this is one of the most diverse musical machines ever. IMHO.