I suppose one could argue that all loops are samples but not all samples are loops. I like the imagery of the "loop" term -- of course, in days gone by a "loop" was a physical piece of magnetic tape spliced to form a continuous loop.
I will likely keep calling it "live looping".
If nothing else, I like the alliteration. :)
-- Kevin
mmm Live Sampling - thats good!
Matt Stevens
www.mattstevensguitar.com