I just figured out how to record from Paragon 5.
The GB tracker used for Project S11.
Strange lil' sound system, this. It's almost better than the NES, but at the same time it's not quite as good as the NES. This has volume control on the wave channel (four levels OMG), and the waves aren't 1-bit delta-PCM, and it also has the same amount of pitch control as the other channels now (no having to load 3 samples to get a full set of notes). However, it's only capable of holding 32 chunks of sample natively (which is nothing) and it has to do this clicking sound when it loads a new chunk of waveform, so if you're trying to play back a sampled drum or a voice clip or something crazy like what you commonly hear with the NES, it sounds like a crackly awful mess compared to DPCM. Better for tones, worse for samples. Strange.
Also, every channel can be either hard left, hard right or center, which makes it really, really easy to make it sound like there's more going on than there actually is. However, unlike how the NES had DPCM and a triangle channel, the GameBoy only has one wave channel.
See what I mean? It's like they didn't want either to be blatantly better. The pulse/noise act the same as on NES, except tuned one octave higher I think.
Anyway, this is my short little testing tune. The tracker is pretty effective, I managed a great sound out of it without really knowing much about what I was doing. It'll be fun to mess around with this more.