Live 5 is here, and it’s a major upgrade to everyone’s favorite digital audio workstation-you-can-perform with. And we’ve got a bevy of other updates from Download the upgrade and take advantage of a special deal on Live + Operator, watch behind-the-scenes and tutorial movies, download the demo version of 5 (which has only a save disable; you can otherwise use it free for an unlimited time), tour the new version, or — here’s a nifty bit — check out the uber-hip nerdbag custom-made for Ableton. Wrap that laptop in recycled materials. (Rubber dinghies and air mattresses get a second lease of life, your PowerBook gets a second lease on cool. Excellent.)

Oh, yeah, and last but not least, Friday night is the Ableton 5 launch party here in NYC at Tonic, complete with visuals and live music.

See also CDM’s take on what’s new and why you’ll be hearing even more mash-ups than you are now. But don’t think this is a toy for mash-up artists: this software will continue to appear at a club or studio near you. More on all these stories soon . . . it’s suppertime at CDM HQ.