I am looking to replace audacity as my audio editor... the image below explains. The program shown is called "Reaper". The price ain't too bad either (for "commercial" purposes under 20k/yr, the program is only $60)
Now that I think about it, the tools I seem to like the most are the ones that lack "selection modes", or "modes" in general. I just really like context sensitive controls.
I still need to get past the initial learning curve of the program; most of that curve lies in figuring out what pre-built effects/filters are available that are equivalent to the effects/filters I typically use in Audacity to create new sounds. Usually, I use household items to produce sounds then edit the hell out of them to give them a unique effect. Example: Using a combination of phaser and pitch shifting, you can make the jarring sound of rubbing a dry balloon sound like electricity.