It meets all your needs for audio editing - Windows Shareware $19.95. Cool Music Record/Edit Station is a professional digital audio editor; it allows you to perform various operations with audio file: cut, copy, and paste features (with unlimited undo functionality), mix tracks, or apply effects to recordings.

This program can not only record and play sounds but also import and export a wide range of supported audio files(WAV, AIFF, MP3, and OGG, etc.). Cool Music Record/Edit Station offers a customizable spectrogram mode and a frequency-analysis window for audio-analysis applications. Create music where, when, and how you want it with unbeatable audio quality. Expand your digital horizons with the software! The possibilities of Cool Music Record/Edit Station is endless.