KRISTAL Audio Engine is a powerful multi-track recorder, audio sequencer and mixer - ideal for anyone wanting to get started with recording, mixing and mastering digital audio.
It is designed as a modular system. The main application provides a mixing console, while the audio sequencer, live audio input and so on are loaded as separate Plug-Ins.
Its similar to audacity, though I believe an improvement as it much easier to use to its full extent. I'd try it before dismissing it at any rate.
Heres a link to the site got some extra effects, though there are many others, simply search:http://www.kvraudio.com/get.php