Boo,
I have the old version of Cool Edit Pro, but I would love to upgrade.
As far as the computer vs. recorder issue, I have used both systems (right now I am using a Yamaha AW2816, which is the little brother of Terry's AW4416, now discontinued): it all gets down to sound quality, that in turn depends on which sound card you have in your computer. A computer based solution offers greater editing abilities (it's really cool to have all those waveforms displayed on your screen, to edit with just a click of the mouse). On the other hand, a digital recorder usually has a better sound quality (frequency response and especially signal/noise ratio) compared with most computer sound cards.
Personally I have found that, with a digital recorder, one tends to concentrate more on playing and less on editing, which is not a bad thing.


[This message has been edited by Dreamer (edited 04-26-2003).]