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I use Screenblast Sound Forge, which I think costs about $70-$80. (As opposed to the professional edition of Sound Forge, which costs about three times as much.) It's sold by Sony. Anyway, I've successfully used it with both MP3's and WAV files, and I find it easy to use.
I've also tried Adobe Audible, and found it confusing. (It used to be called CoolEdit, before Adobe bought the company and renamed the product.) I'll still use it if I want to edit the sound portion of a video clip, but I don't like it for WAV and MP3 files.
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