Justin Frankel of Winamp and Gnutella fame, has started a new company, Cockos Incorporated (strange name?) and is currently working on Jesusonic (I guess the name comes from the shape of the product), "God's own effects processor". The thing sure looks cool!
Jesusonic is a fully programmable effects processor for guitar, bass, vocal and general use. It is designed to offer all of the flexibility of a general purpose computer for its effects, without the traditional computer side effects (moving parts, lengthy boot times, questionable stability for live performances, added latency). The Jesusonic software would be available on Windows XP and Linux by the end of this year.
Jesusonic falls into the category of live-programming systems. I think the idea of implementing a live-programming hardware + software product is quite innovative and allows more possiblities to be explored than a software-only live programming system can.
While simply enclosing computing equipment in wooden cases didn't appear innovative to me :-) Jesusonic, that is also enclosed in a wooden case, by virtue of being a new hardware and software concept, sure does!