To add a few more thoughts:
Renoise is my DAW, I don't look at it as a tracker anymore because tracking has become one small component of Renoise.
Renoise already does what I'm suggesting, it just doesn't display it like I visualized. Audio tracks can have multiple columns just like tracker tracks and really only need to retain the start point of the samples being played (which it already does now via a note). If a pattern with audio is reused, the audio track would function just like how a tracker would: when the start point of the audio is triggered again, it will either cutoff the audio that is already playing, will continue to play underneath the new audio, or it will will trigger a note off (this would use the same setting in the sample instrument properties window).
Obviously if a sample is longer than the pattern, the remaining audio will automatically trail into the following pattern (unless there is no pattern there, in which Renoise could warn you that there is overset audio on pattern X, similar to how graphic design software will warn you of overset type on a page layout).
Once the visualization is established, the fun part of being able to edit the audio with the full functionality of the sample editor will come into play right from the pattern editor (clicking the instrument editor tab could bring up these functions in the bottom tray like the automation editor).
This would make live recordings so much easier to integrate into our music and is what I believe is really holding Renoise back from being a complete package right now. We can keep using excuses that other software does it better, or there's a complicated plugin trick to solve this, but it will never be truly solved until it is put in, pure and simple.
Oh, and one more thing - Don't be prejudice against vertical waveforms, that's audio discrimination