Hello........I have used XGworks for 3 years. I also use PowerTracks Pro for sequencing and recording. I've never used XGedit. Xgworks has a good interface/layout for tweaking all the XG parameters. You can go into as much detail as you wish, or just change basic settings. Of course you must have an XG instrument/soundcard to use make these changes. As for its sequencing\recording capabilities its OK, but I like PowerTracks better, if only because I have become quite familiar with it.
I think I have updated my XGworks 3 times, but never noticed any changes after installing the patches. Yamaha USA has been a disappointment in its promotion and support of XGworks. I have gotten much more support/patches from YamahaUK........go figure? If Yamaha does come out with a new version, I certainly hope that program has support for PSR style editing/making. I'm planning on buying a PSR2000 in January.