The Korg M01 is a new Nintendo DS version of Korg's M1 Workstation that comes courtesy of AQ Interactive. The M1 was hugely popular in the late '80s and early '90s, and the 8-part multitimbral, 12-note polyphonic DS version will feature all of its PCM data, giving you 300 sounds. There's an 8-track/16-step sequencer, a master effect (either reverb or delay), and various editing windows, while data can be exchanged wirelessly between DSs.
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Great soundtrack
This seems much less well-known than the already pretty darn niche DS-10 - probably because this version never made it out of Japan, although a later 3DS port was more globally available. There's a massive range of instrument pre-sets available and some basic mixing and effects abilities. Actually super-powerful once you get the hang of the menu-diving.