I'll be following this thread myself, I'd like the same thing too...something that would double as a 4-track recorder would be especially useful. Currently I use Nero to record my band practice tapes so that I can convert them to mp3 and it works like a charm...I think there's also some editing features in there too, but I'm not sure it can combine different mp3s...
A cool (unrelated though!) application for sharing an entire folder of mp3/wavs/videos/etc... with friends is GigaTribe (www.gigatribe.com). You select the folders you want your friends to have access to, and they can download what they want, they can even download entire folders if you authorize them to (and vice-versa).
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