TwoFun is the latest in a steady stream of combined PSG/SCC music editors. It has some great functionality. The editor works a lot like Realfun, which is nice for the two people familiar with that tracker.
TwoFun will work with 128KB RAM, but you will not be able to make very long songs or have a lot of song buffers.
Of course you can try it yourself.
TwoFun beta 3 - TwoFun for MSX and twofun.dsk for emulators.
We still should write some manual or something...
Now, does that look like fun or what?