In this paper we investigate the benefits of using Z(2)xZ(2) single timeslice stochastic sources for the calculation of light quark physics on the lattice. Meson 2-point correlators measured using sources stochastic in only spin and those stochastic in both spin and colour indices are compared to point source correlators on the unit gauge and on a 16^3 x 32 Domain Wall QCD ensemble. It is found that the use of stochastic sources gives a considerable improvement in statistics for the same computational cost. The neutral kaon mixing matrix element B_K is also calculated on this ensemble with stochastic sources, but we conclude that the stochastic method offers no significant advantage over the traditional gauge-fixed wall source approach which already offers an exact volume average. We also discuss the application to semileptonic form factors in conjunction with partially twisted boundary conditions.