music editing software

edtop40, I've been doing this for 8 years now, and I've always used Cool Edit Pro. It can do all kinds of really "cool" things with audio. Not only can you edit, but you can use it as a multi-track mixing/recording studio. Some of the effects that I use a lot (besides "cut" and "paste") are:
- Click/Pop Eliminator (to clean up vinyl)
- Noise Reduction & Hiss Reduction
- Amplify & Hard Limiter (to increase/decrease volume of songs)
- Pitch (which will change the pitch AND tempo or can chance the tempo without changing pitch and pitch without changing tempo)
Other effects include:
- Reverse
- Reverb (with a number of presets)
- Echo (with presets)
- Equalization
- Filters (to filter out frequencies or create unique effects)
- Compression (to change dynamics of the music--not file compression)
- Channel Mixing (to switch or mix certain percentages of each channel)

Bottom line is that this program can do TONS of things, and it can do them quite well. For editing, you can zoom in to the SAMPLE (there are 44,100 samples per second of audio)---far more accurate than you could ever do on reel to reel tape.

If you're looking for a new copy, it's no longer called Cool Edit Pro. Adobe bought the software and renamed it Adobe Audition. I've never used their new version, so I can't make any claims as to how good it is, but it looks similar to Cool Edit Pro. I am using version 1.2, and it can do everything I need it to do and more. The key with any editing software is getting comfortable with the controls, shortcuts, etc. The more you use it, the easier it gets. Older versions of Cool Edit Pro (like 1.2 and 2.1) are commonly available for sale on eBay for around $100.00.

Cool Edit has a function that allows you to draw a fade arc. It's called "Envelope" and can do a number of other volume adjustments besides a straight fade.