I was lucky enough to be given a Beta version of Ableton's new Live 9 a couple of months ago. One of the most interesting features is the new Audio to Midi function, which sets out to give Melodyne a run for it's money. The great thing is how it is integrated into the contextual menu alongside the existing 'Slice To Midi' function, so you have a lot of audio converting power at your fingertips!
The beat extraction works really well, managing to pick out Kick, Snare & Hat sounds and recreate the pattern using a Drum Rack. This presents so many exciting possibilities, especially on the remix front. The chord extraction was a little bit more fiddly, but with the powerful Midi devices and editing possibilities that already exist in Ableton, you can quickly get some great results.
Check out the video where I take a beat from AudioMontage (aka Jimpster) and combine it with the intro chord progression from Kraftwerk's Trans Europe Express.