MachFive will perform a similar function to the Roland "Variphrase" range of hardware (and software - in Sonar if I remember correctly) processors. This is basically where you can re-pitch samples on-the-fly via MIDI as they play without changing their duration - it's great for creating harmonies on vocals, for instance. In MachFive 2, all you do is load a phrase into Looplab, select stretch mode and then hit the Part "Mono" key. As long as you play legato, the sample doesn't retrigger when you play a new key, but the pitch changes. Glide time works to make it more musical, too. To be fair, maybe the stretching isn't quite as harmonically corrected as the Variphrase algorithms - but maybe I've not tweaked enough yet.
Anyone with K2, Independence, Structure, etc - is this unique to M5 or just what samplers do these days?
