Even though I am no audiophile, it pays to know what tools are available, albeit open sourced and free, for audio editing. I have been familiar with Audacity and did not notice that there is another tool available called Ardour.
From their website (where the image was taken and converted to jpg), Ardour is described as "a digital audio workstation. You can use it to record, edit and mix multi-track audio. You can produce your own CDs, mix video soundtracks, or just experiment with new ideas about music and sound."
At version 2, I am wondering why I missed this powerful app. Maybe because it runs only on Mac OS X and Linux, whilst Audacity adds Windows support.
I got excited reading this… until I came to the part where you said that it only works for Macs and Linux. Boo.