Well... hmmm what I would use in a Home Studio (since I'm an Audio Engineer and Audiophile) is a Digi-Design Pro-Tools rig, which is expensive to boot but allows you a ton of power and flexablity over the recorded tracks, plus a healthy amount of plug ins to make even the shittiest guitar player sound good (seriously, you can record the sucky guitarist at half speed with no alteration in pitch after being speed up for real time, then quantize it to make sure it's in tempo, EQ the shit out of the guitar, Compress it to keep the volume level, and why not strap an auto-tuner on there to correct any out of scale notes).
I've seen what the PC can do... thats more for hobbiests or people that want to recordings to sound like a whole lotta suck. SoundForge blows because and alteration you make in the sound is Permanently added to the sound, so if I add a reverb, some compression, or delay, it messes with the original data and I can't undo that at a later time. Seriously Gollum the best thing to do is get a Pro Tools rig or a Mackie Digital Mixer and HD system if you want stuff not loaded with sonic disasters. It's costly but you'll know where your money goes.
If I had to pick a PC Audio Software title... I'd have to say Sound Engine... it's a good wave editor and can let you mix track with envelope tools (blech). http://www.cycleof5th.com/en/index.htm
<= You can get it there if your interested.
Well that ends my rant, peace I'm out