Cubase 4 & Ableton live question

[PMuller]

I just got a Nine Inch Nails CD, and in it was a Data CDRom that had an Ableton live Demo with a bunch of Loops that Trent Rezner put in for you to play with and arrange as a learning tool. Every song on the disk was given in the Data to rearrange, which is pretty cool.
As I was doing the Ableton tutorial they had me take an audio drum loop, and pull the kick drum, the snare, the bongo, HiHats individually and place them in what they called the Impulse which is basically a MIDI sampler. Anyway I was able to disect the Audio loop and recreate it using the keyboard. I really don't know if I'm explaining this clearly or not.
I bought Cubase 4 and I was wondering if I can do the same thing in Cubase?
I kind of wish I would have played around with Ableton before I bought Cubase, but if I can do that in Cubase then that would be sweet. So if there are any Cubase pros out there I would love to hear some input.