That would have saved OMD so much work in the early days when they didn't have step sequencers and had to play bass sequences in real time Smiley
It's amazing how much things have changed since the late 70's

One thing... I don't call that an arpeggiator, I would call it a step sequencer.
The arpeggiators I use rely on you pressing multiple keys and having the arp step through those keys in a predifined sequence and speed.
http://www.youtube.com/watch?v=rT4dIjWuKv4