Arrangement and clips
A track can hold several clips laid out along the timeline, not just one. Place, move, trim and duplicate a clip directly on its track.
Playback
Every clip is genuinely scheduled at its own position on the timeline - true for both MIDI clips and audio clips, which play back through that track's own effects chain, volume and pan exactly like the rest of the track.
A note on audio clip length
Known limitation
An audio clip's audible length follows its recorded frame count, not a live recalculation from tempo - there's no time-stretching yet, so changing tempo after placing or trimming a clip can leave its on-screen width and its true audible duration slightly out of step.