Elektron Musical Instruments

What experiences have people had using Live as a sequencer for the MD?
If you have just the base chanel for MD in live armed for record does
it only playback the notes for whatever kit the MD is on? What other
information does it hold? Can i record my patterns into Live with
extra midi chanels (ie. base + 1 for track 1-4, base + 2 tracks 5-8
etc) open for CC messages? Would like to make longer sequences and
essential have just one sequencer.