788 for live applications?

Hello--i am a newby--but hope to stay here--seems quite peaceful--wanted to know if im pipe dreaming or can i use the 788 the same way i did a minidisc machine a few years ago.We played out with the md as backup with recorded bass drums and guitar. The more and more i use this machine the more I definately like it...However the load time is a problem --for live?? Could I use the locate mems and just record one long song or is that crazy--Im thinking thats the only obstacle i see now-- thanx