Here's a simple hip hop beat I did in about a half hour: http://chaircrusher.home.mchsi.com/beat1.mp3
The whole track came out of starting a beat, and then playing the bassline and keyboard live into clips. Then I recorded triggering and muting clips live, and did a little trimming in the Arrangement window. There are some drum sounds that are a little glitchy on the attack, which I'll go in and fix if I end up doing anything else with the track...
The other new thing I used in that track was WusikStations which is a wacky plugin I got to review for Grooves Magazine. It is the high keyboard part, along with the screwy echoey stuff behind it. The bass is Lounge Lizard Electric Piano, which seems to be my 'go to' for bass these days.
WusiksStation incorporates fairly standard Sampled Waveform + Filter archictecture, but it also includes wave sequencing and vector synthesis, and a slug of OK effects. Like Ableton Live, it's easy to screw around with and come up with something interesting.