QT Pro:
Maybe some of the features you use are worth shelling out an occasional $30 for, but much of that stuff can be done with third party editing tools, or iMovie or GarageBand.
My kid was putting together an audio presentation for school recently, turned out that iMovie was about the simplest thing to use for the limited editing she needed to do. I was going to be out all day, so I showed her a few things, and away she went. In no time, she was downloading royalty-free sound effects from the web, getting them into iTunes and using them from the iMovie menu. Finished product back to iTunes and 'burn this playlist' to a CD and she was done.
'Audacity' is fairly powerful free-ware audio editor. Includes a bunch of effects also (echo, reverb, filters, backwards audio,....).
-KCMW
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