I have been using this freeware version for some 3 weeks with great success. It's very easy to use and the dsp's are great. The program like most audio editing uses memory, I found I had to upgrade to 96megs to get the best out of this s/w. There have been a few glitches with the soundcard set ups at first, but these are now sorted (I hope).The Digital Sound Planet website offers a very helpful forum for user problems at all levels.
The various screeens are excellent, although I would prefer an easier screeen for setting up record/playback parameters which is up front and showing (midi line; audio channel; etc.) The score sheet allows easy trimming of all those midi mistakes and a step mode midi record is useful for drum patterns.
Overall I'm extremely impressed; and it's free. Whatch out Steinberg!!