We see so many great concepts disappear from view before becoming reality that you could excuse us if by now we're a little jaded. That said, we've been holding on to hope that Teenage Engineering's pocket sequencer / synth / sampler / controller was the real deal. And what is this? According to the gang at Create Digital Music, who got hold of one of these things at NAMM 2010, the thing is real -- and it's coming soon. Even for a prototype, the OP-1 appears to be an impressive creature: aside from sporting the aforementioned synth, this bad boy sports a four-track virtual tape recorder (with "virtual splicing" for editing your audio), a sampling feature that allows you to change the record speed in real time (for analog-like editing effects), and a dazzling display screen (at least when compared to the displays on current hardware). But that ain't all! Get a closer look in the video below, and with any luck we might be seeing it become available this year, for a price below $1,000.