An animated bassline can really make a track - taking the low end from supplemental to prime time. In this tutorial, Ableton Certified Trainer DJ Vespers demonstrates his custom Effect Rack in Live for gating and stuttering his bass sounds:
Gate & Stutter Effects for Bass - New Tutorial from DJ Vespers
For more tutorials and a free eBook, see DJ Vespers' site.
If you're looking for tape-stop effects in Live, then there's a couple great free options: Pitch Drop by Mormo, for Max for Live, and this free effects rack from Certified Trainer Yehezkel Raz: