I am surprised that no one has mentioned Melodyne yet. I use it when transcribing bass lines.
It may be possible sometime in the future to have software generate an accurate notation of a single instrument from a band or orchestra performance, but automatic generation of the best tab from the notation won't happen any time soon, IMO.
Hey Maartian, thanks for your very thoughtful reply; I added Melodyne to the list above so to be visible in the coming days and weeks for anyone else interested in this subject. You are
way further down the musical road than I am.
Am I correct that your method is to view the entire mix (all instruments) in "blob format" and upon playback you're basically slowly and manually moving from blob to blob to identify bass notes? And then once identified you decide where on the fretboard to place that note on your tab? If yes, I'd say that's Melodyne-assisted manual transcription, a skill that I'd have to develop.
FWIW, on many songs I want to learn I'll print the chord sheet and play only the root to verify my chord sheet is accurate; this gives me an idea of where on the fretboard I'm operating. If required, I'll start this at 10 or 20 BPM slower than the original. Then I'll slowly increase the complexity as required by adding the 5th, then arpeggios, then small fills/runs until I'm
somewhat satisfied to claim "victory". I suppose this too is manual transcription, but not nearly as advanced as what you do. Of course, my basslines will always pale compared to the pro in the band. And so I'm looking for a better, minimal effort and maximal accuracy method to up my game.