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I personally use Screenblast Sound Forge, which costs about $70-$80. (There's a more expensive version, meant for professional sound editors, which is called just Sound Forge, but I find that the lower-cost Screenblast version is perfectly fine for my needs.) I've been using it for 10 years now. I find the user interface to be nicely intuitive, and I've rarely needed to look at the manual or the help file.
I use it to do fade in/out, raise/lower the volume, cut songs to a shorter length, paste repetitions in (which I occasionally do for entrances or exits), lengthen tracks from Mary Ellen Donald's drum rhythm CD's to use for drills in class, etc.
It works great on both Windows XP and Windows Vista.
I've never tried Audacity, so I can't comment on it.
I also have Adobe Audible, which used to be known as CoolEdit, and so far I don't like it. I find the user interface kludgy and hard to learn. I use it if I want to edit the sound track of video footage because my low-end version of Sound Forge can't do that, but otherwise I avoid it because I find it too difficult to figure out.
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