Eric - my friend's brother has that exact same mixer... he uses it with Virtual DJ though, not Ableton. I think I prefer sequencing a whole set with Ableton (which is what my next set is gonna be), rather than using it to mix. For mixing, something like Virtual DJ or Traktor coupled with a MIDI controller is the best for the price. I am gonna get my own MIDI controller next year.
Today I just bought some lightbulbs for the kitchen, perhaps I'll pick up the Fallout 3 guide, the really huge hardcovered one, if they have any left at Circuit City's closeout sale.