Yes, it does this easily. You can create banks of Keysets, formerly knows as STS (single touch settings). You can have the last Keyset you used auto-selected when you touch the bank button, or you can opt to select your sound each time. I use it all the time. There are banks that are preset for each sound category and you can use them, use part of them, overwrite some of them or overwrite all of them. Custom sounds are treated the same way if you use them.