Greetings: I took your Advice, and now taking a look at RealBand again. In the past, RealBand lacked most of the functionality for a "live" gig situation. I see RealBand now has the "Conductor" feature which is good improvement. At the moment RealBand seems the right tool for a DAW or multi-track recording to master tracks, but still has much fewer features for "live" usage than Band-In-A-Box.

Example: I use a MIDI foot controller, and in BIAB - with foot switch I can easily do things like:
- Mute or Unmute RealTracks on the fly: live during playback
- Decrease / Increase master volume +/- 5: live during playback (but loses track balance)

Those two examples above, I have not found yet in RealBand (2010.5). I hope they add in future. I would actually prefer to use RealBand, because you are right, it's more powerful for mixing, allows Audio track volume mixing, and truly multi-track.

It is a little confusing which direction PG-Music is going:
Which tool is future direction for "live" gig use: RealBand or Band-In-A-Box?