Yes your sampling time will be alot shorter!!
Memory capacity 16MB standard (11.5MB for sound memory), expandable to 128MB
Recording time 136sec. (16MB, MONO), 24m28sec. (128MB, MONO)
Sampling in stereo will cut your recording times down to pretty half of what you will have in mono. For the time being sample in mono if you have some long samples. Yes you will be limited to the amount of sounds and programs the mpc 1000 will hold at 11.5mb. You can still get by or make some good stuff with the smaller sampling time you will have with the 16Mb.