Use this to save memory or as a lo-fi grunge effect in it's own right!

1. Select the sound you want to downsample.
2. Go to Edit->Pitch->SemitoneTuning and set it to a positive value (say +24st). The pad sound should now be nice and squeaky.
3. Resample the squeaky sound
4. Assign the new sample to a pad (the source pad if you like).
5. Go back to Edit->Pitch->SemitoneTuning and set it to the exact negative of Step 2.
6. The sound is now downsampled - it will sound nice and grungy, and take up less space! Repeat steps 1 to 5 for more grunge. Remember to Process->Truncate when you're done downsampling.