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I use Cool Edit Pro because a friend upgraded and gave it to me. It works pretty well for my applications (take a listen on my page). I know you said you're on a budget but for anyone else reading this: for work I was issued a Zoom H2 that I record my classes with and send them to my supervisor for review. This is an extremely portable little gadget that is easy to use with great quality. I recorded a violin recital that I accompanied and it turned out great! If anyone is looking for a good, portable device that doesn't cost a bundle. This is it. I've also used it as a condenser mic right into my computer. Very versatile.