I've always been a fan of producers J-Dilla and Madlib. They along with other artists are notable users of the Boss SP-303. Much of the character of their sound comes from the "vinyl sim" compressor effect found on the SP-303. It gives the sonic characteristics of a tight, squashed, lo-fi sound, with drums typically causing the beat to "duck" in and out due to the algorithms of the compressor. I've been twiddling around with the OP-1 for a bit to see if there is anyway to emulate the qualities of SP-303's vinyl sim. I believe I've found a close solution. I basically set the drive to max, enable "punch" as a master effect (99 power, 0 punch, 5 rounds), and tweak levels as needed. Of course, these parameters can be changed to taste, but I find these settings to be ideal for most situations.
I'm a huge fan of the lo-fi hip hop scene, so I'm sharing this with other users who may be seeking a similar sound for their own music production.
Below is a track which I produced quickly just to demonstrate the sound which was achieved after experimenting. It's nothing complex, but I believe it demonstrates a sound very close to what can be achieved with an SP-303! Let me know what you guys think.