Launchpad pro as a sketch pad for guitar players instead of Circuit?

When I play guitar I often desire a Circuit, as a small device I can bring around and record a few tracks of strings, bass, keys, bass and drum for practice. Problem is it has only 2 instrument tracks and does not play well with guitars (no record and it sounds quite "tecno"). It would need an external sound module, speakers, multiple cables for both midi and audio...

So as a Ableton user I'm looking at the Launchpad Pro in sequencer mode: I could use it with Ableton as a sound module, it has the 4 tracks which is better than 3, costs even less and it would me allow me to fall back on Ableton and record my guitar / bass line when I'm ready. As for using Ableton directly for composition: I don't wanna mess around with touchpad, shortcuts, windows focus... I need something compact and self contained as I'm running around my "real life" instruments.

What do you think, could it work?