CoolEdit Pro is "the complete multitrack recording system for your PC."
CoolEdit Pro can handle up to 128 tracks, supports 24bit/192kHz (and higher), has more than 45 DSP effects (mastering and analysis tools and audio restoration features), and uses up to 32-bit processing.
The latest 2.1 version now supports multichannel (surround) audio and has a host of other new features Some of the improvements and new features mentioned on the "cooledit" website include,"Multichannel encoder with WMA and WAV 5.1 file output
With the new multichannel encoder, you can take any mix from Cool Edit Pro's Multitrack View and pan the tracks and busses to create a surround sound mix. You can preview your surround mixes on any sound card that has a DirectSound multichannel driver, and export the mix as a single 5.1 WMAfile, one interleaved 6-channel WAV file, or 6 individual mono wave files.
WMA 9 support
Cool Edit Pro's WMA 9 features includes support for the format's new capabilities, including encoding to either constant bitrate or variable bitrate, support for sample rates up to 96kHz and bit depths to 24-bit, data rates up to 440 kbps, lossless compression, and multichannel files.
Greatly improved Noise Reduction
The new Spectral Decay option makes possible much larger reductions in noise without adding unwanted artifacts.
Additional hardware controller support
Cool Edit Pro now supports the Mackie Control, Tascam US-224, and Event EZbus. Hardware manufacturers can also write support for new controllers with the new Cool Edit Pro controller SDK.
Enhanced SMPTE/MTC master and slave accuracy
Cool Edit Pro's sync to external SMPTE/MTC sources is even more accurate than before. It will now chase a source with better than -+ frame accuracy.
Ability to move tracks in multitrack by right clicking and dragging on track controls Just right click in the track controls and drag up and down to reposition entire tracks in the multitrack view.
Faster response in VU meters and Frequency and Phase Analysis windows
All three of these analysis tools have much smoother updates in real time.
Spin mode for Phase Analysis.
The Spin mode in Phase Analysis provides a new way to look at the phase relationships between channels.
Intelligent default sound card selection
Cool Edit Pro now selects its default sound card more intelligently, allowing you to get up and running even faster than before.
Multichannel WAV import and export
You can now import WAV files with more than 2 channels as a series of mono WAVs. This enables you to open a WAV file that contains a 5.1 surround mix, edit each of the wave files, and re-save the tracks as a multichannel wave file using the multichannel encoder."