The PSE install 3MB is one of the best apps CODS I know (along with the head developer is none other than Justin Frankel who was responsible for the series of Winamp & Ninjam).
The app is running on a Core2Duo E6300 with 1024MB of RAM at home, a sound card entry Phonic Firefly 302. No problem on this config, the app is very fast compared to a plant-based gas such as C *, I have latency of around 6ms which for a firewire card is reasonable.
REAPER supports 2000/XP/Vista, even Linux with Wine and Jackaudio rotated correctly.
I am Reaper since version 1.6, and each new version was right new features, fixes and new plugins. It is updated almost every three days, The reactivation of being Cockos copy! We're going on the forum, it lists a bug, and a few days later a new version comes out.
Cot price: 50! Find a soft style for this award. Moreover, even if it is a shareware, you can use it without paying as much as you want. Cockos a trusted user to purchase a license if the software suits her, in short, it's 100% transparent.