Hi Huey,
Cubase is very powerful (I use it to arrange my progressive house music), but:
(1) It might be a slight overkill just for arranging loops. (On the other hand Cubasis might not have enough tracks.)
(2) I find the screen update and the interface in general a little shoddy and sluggish (even on my P2-300MHz)
There is a (slightly) harder learning curve compared with simpler programs like Rave Ejay & Acid, but lots of people swear by Cubase, and it certainly does the job as far as I'm concerned.
I recommend you get 128Mb RAM - memory's dirt cheap at the moment, and it'll help if you use lots of samples. And get a huge hard disk! (at least 20 Gig)
Good luck
