I wrote so many tracks on it, some of which played on local FM radio and in clubs. Fondest memories circa 1996-2001.
Only many years later, Ableton managed to create another DAW that got close to FT in spirit, which is don't impede the creative flow. A DAW written by actual musicians for musicians (hail Robert Henke aka Monolake!).
And recently, Bitwig pulled another stunt and married Ableton Live's simplicity with feature richness more typical of a heavyweight DAW league, without all the inherent clutter.
P.S. This seemingly turned into some kind of advertisement, but it's just gratitude from a devoted user :)
The FT2 XM format was more powerful than the ST3 format (limited in track numbers and iirc no 16bit samples?) and less powerful than the impulse tracker IT format (virtual tracks without tying tracks to output channels), but for many demos the XM format was a sweet spot since third party IT replayers were few due to the more advanced features while XM replayers were plentiful and often powerful enough to create the music people wanted to do.
And if you think Fasttracker is complicated, wait till you try Protracker...