Nothing beats the routing power of Reaper,and it's free until 1.0.
No sense dropping a buch of cash on Audition until you try Reaper first.
I hear it could be as high as $300 after it drops at 1.0,but I there might be a affordable introductry offer around $20.
The developer will not enforce any copy protection of any sort however,so you can pay when you can afford it.
Copied and pasted from the web site.
Some key benefits of REAPER are:
Extremely small footprint (full featured, with an installer that is approximately 1MB)
Easy to start using: simply drag and drop one of many kinds of files in to edit existing material, or insert a track and arm it for recording. No complex project or definitions to set up.
Fast and powerful editing facilities: split, resize, fade/crossfade, pitch shift, timestretch, copy/paste and loop media items with ease. Ripple editing is available, too.
Unrivaled routing capabilities: send tracks to any number of other tracks or hardware outputs, with lots of options (pre-fx, post-fx, independent faders, mono or stereo). Not interested in advanced routing? You don't have to use it (and it certainly won't get in the way.)
Powerful recording options (supports pre-fx, post-fx recording, can record mixed output of multiple tracks, etc), supports switching record inputs/modes on the fly, input monitoring options (including tape-style auto input monitoring mode), supports auto-punch-in/punch-out, and more. If you want. Otherwise, it just behaves as you would expect.
Support for MIDI files, recording MIDI, and VSTi/DXi softsynths. MIDI can be integrated and mixed with audio.
User arrangeable user interface with color themes: make REAPER look how you want it to look, and arrange (or hide) elements of the user interface to suit your needs.
Support for consolidating track edits and rendering track stems, to enable easy export for other applications.
Includes many Jesusonic effects, and supports many plug-ins (including VST and DX plug-ins).
Basic features:
Support for an unlimited number of audio tracks
Audio tracks are all fully routable (multiple inputs, outputs)
Volume, pan controls and envelopes per track
Supports audio processing plug-ins (DirectX, DXi, VST, VSTi, and
Jesusonic) with automation, easy chain manipulation and editing
Pitch shifting and time stretching
Fast, reasonable and usable Windows-style UI, working well on both low and high resolutions or multiple monitors
ASIO, Kernel Streaming, WaveOut, and DirectSound support for playback and recording
Reads WAV, OGG, MP3 and MIDI files, records WAV and MIDI files
Can render to WAV, OGG, MP3 if lame is installed
Full SMP support (can utilize 2 or more processors)
Multi-layer undo/redo support
Basic MIDI editing support
User creatable color themes
Advanced features:
Unlimited send/receives per track, with configurable parameters (pre-fx, post-fx, volume/pan adjustment/envelopes, mix to mono, phase, etc)
Any track can act as a bus, giving amazingly huge routing flexibility
Tracks can have one or more (mono or stereo) hardware sends, for analog mixing capability
Fully routable/FX-able folder tracks that can contain and group tracks
Item grouping
Ripple editing
Grid/snap support with highly configurable options
Markers and Regions
Unlimited takes per media item
Auto punch-in/punch-out functionality
Automatic record monitoring modes
Selection length granularity options as well as grid snapping
Tempo envelope (for grid lines/snapping/ruler), playspeed envelope
Project consolidation/export options (for rendering all or parts of any number of tracks to WAV/etc)
A UI and architecture that allows you to easily cut loops of many tracks simultaneously, without having to write them to disk
Support for plug-in generated media (such as click tracks, etc)
Project tempo envelopes for variable tempos in track, grid/snapping that supports variable tempos
64-bit floating point sample pipeline for high quality
Advanced recording and monitoring options -- examples:
You can route multiple tracks (inputs and/or media items) into a bus, and record THAT mixed down version.
You can record the input signal, or record the post-FX, post-track-rendere signal.
You can switch recording sources on the fly, even while recording.
You can arm/disarm tracks' inputs while playing or recording.
A sampling of qualities that makes REAPER sensible:
Sane, human readable, human editable, backwards and forwards compatible project file format
Options to build peaks for recorded files on the fly
Lots of control for the user to specify where recorded files go, etc, when dealing with many projects.
Template support to make it easy to load a project template and save it as a new project when you begin.
Input/output channel name aliasing (why view your inputs as "MOTU 896: Analog 1" when you could have them be "Vocal Mic", etc).
Options for automatically backing up project files to alternate paths, timestamped versions, etc.
Things planned for REAPER v1.0 (coming mid 2006) that are not in this release:
More annotations
More fade shapes
More envelope shapes
More MIDI functionality
Higher quality resampling modes
Public plug-in API
Better control surface support
MBCS filename compatibility
Things that are planned, but lack a specific timetable:
ASIO DM support
Rewire support
Multi-language support
http://www.cockos.com/reaper/