It would be cool to see routines coded to use the EMU10k1 chip onboard the SB live. The chip itself can mix 64 16-bit channels with effects with no CPU time. I have gotten used to this method on my wintel box, as I do most of my tracking with Impulse Tracker on my Gravis Ultrasound PNP / AWE64.
And as mentioned above, a small plug-in player would be nice for developers to be able to use tracked music for games, webites, etc.