In this paper, we presented a flexible analysis/re-synthesis method for smoothly changing the properties of isolated notes in polyphonic instrumental music recordings. True Envelope Linear Predictive Coding (TELPC) method has been employed as the analysis/synthesis model in order to preserve the original timbre quality as much as possible due to its accurate spectral envelope estimation. We modified the conventional LPC analysis/synthesis processing by using pitch synchronous analysis frames to avoid the severe magnitude modulation problem. Smaller frames can thus be used to capture more local characteristics of the original signals to further improve the sound quality. In this framework, one can manipulate a sequence of isolated notes from two commercially available polyphonic instrumental music recordings and interesting re-synthesized results are achieved.