Does it have a
built in Wave editor?
No.
Depends :)
The editor will let you cut up, trim, gain-control, splice and
crossfade audio.
It doesn't allow sample-level "pencil" style manipulation, and you
can't write new data in the trivial way that most editors allow. You
can still do this however.
So basically no, the editor is more of what people term an "arranger"
or "sequencer", but it can still do quite a lot.
to get back the question: i've used -
snd - very powerful, a little tricky to learn to use
sweep - excellent traditional editor
gnoise - excellent traditional editor, not moving as fast as sweep
but has a few benefits
lots and lots of people are using audacity (its one of the top 10
downloads from
sourceforge.net), but i've never tried it.
--p