To back up what the laughing man has said one of my favorite things to do in ableton is recording to audio, weather it be from another audio of from a midi loop I have created and then just tweaking the **** out of it as you record listening to the result chopping that up and going again... so much fun!!
Midi also seems real easy to play with edit and don't forget to try clicking on an audio loop and slice to midi great for glitching effects!!