Can we do positional audio with the new features? Like having a sound effect play only on the right speaker if its on the right edge of the screen etc.
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Good question, I'd like to know that also.
Not yet - the Web Audio API is missing a simple stereo pan feature, and instead has a full-blown 3D audio system. I'll try and add support for it at some point, but it will probably work a little differently to Classic's positional audio.