This just in from Jake Ludington:
Wavosaur is a lightweight audio editing application with VST support. All the basics are covered here, including support for multitrack audio files, trimming, adding effects, making loops, and normalization. Most processing settings are also available for batch conversions, making Wavosaur a handy tool for applying the same settings to a bunch of files. I like are the option to remove silence in a batch, which is a convenient way to speed up spoken word audio without altering pitch. A vocal removal preset also scrubs music files of vocals, so you can make your own karaoke tracks in a batch. The vocal removal doesn’t always get chorus sections perfectly scrubbed, but it shouldn’t hurt your ability to sing over the top of the file. The application runs as a completely standalone executable, meaning you could put it on a thumb drive and use Wavosaur anywhere. The user interface is generally more intuitive than the popular freeware app Audacity, but the two make nice companions rather than being replacements for each other. While Wavosaur doesn’t bundle all the features of things like Sound Forge and Audition, it does most of the common audio tasks well at a price neither of those two apps can touch. [Windows 2k/XP/Vista $0.00]
Jake also thinks Mixcraft is the Windows equivalent to GarageBand. He has searched at length to be able to say that. If you use a PC, I think it’s worth checking out.