Tapas, your analysis of the evolving world of soft synths and arranger systems is right on the money. The advent of more powerful computers has made the improvements in sound quality and effects doable and affordable. This is also true for vocal harmonizers. Antares, the industry standard, has come out with a new set of software for this purpose including pitch. correction.
This evolution will continue into the future. For example NI has added the script feature to kontakt allowing you do all kinds of fancy things to your sound like adding harmonies, special effects and so on. It really is exciting. I note with interest people on this forum getting excited about their favorite arranger keyboard and so it should be. The software solution provides another alternative to the performing or studio musician....you just can't lose!!!
Talking about evolution....there was a company called Evolution before it was bought out by M-Audio. This company produced a software sequencer program called Sound Studio Pro which included an arranger module. I have it and it worked well. The problem was there were very few styles for it. Furthermore, Cubase in it's earlier incarnations had an arranger module. It to had few styles and little interest at the time. It seems that the pros in those days thumbed there noses at such automated things....oh well we shall overcome and have.
Your other question about the quality of Roland's/Edirol's hardware modules (Canvas) is interesting. There is no doubt that in its time these were amazingly good quality for use with midi files....the best. It is even more astonishing that Roland achieved all of this with a 2mb, 4mb, 16mb, etc. wavetable covering all the instruments in the GM/GS standard....yes amazing. There are today, of course, far better sounding software wavetables including Roland's HQ-Hyper Canvas, HQ-Orchestral and so on.
Up until now I have used sYnerGi GS Soundfont GM/GS/XG Wavetable and modified and changed out some of the instruments. This wavetable sits at 128 MB and sounds better than most hardware modules or keyboards. I would think that something like Colossus and Bandstand will be an order of magnitude better than this. Here is the thing....you can modify these wavetables to suit your needs. You can do this far more easily then with any other hardware based module or keyboard.....except, of course, the Muse Receptor.....a hardware VST (or is it a internet free computer running standard software?)....who would have thought.
[This message has been edited by Frank L. Rosenthal (edited 10-09-2005).]