For audio only.
HEAR, HEAR!
(pun sort of intended)
I use Audacity as well and have come to really like it. It is now my audio editor of choice. The only problem I have encountered is "dropouts" in the data stream being recorded. The artifacts range from unnoticeable to annoyingly long. I use Time Warner Road Runner as a service provider, not their fastest nor their slowest but about 100 Mb/sec. The dropouts are not the fault of the Audacity program, as they result when the digital data stream packets arrives just a bit too late to maintain a continuous stream of bits to the digital to analog conversion process. The gaps do not remove any of the original data, they just delay it's arrival a fraction.
You can use the Audacity program to remove the dropouts because they are easy to spot in the waveform display as they playback as "flat line" zero Db displays in both left and right channels. You pause and back up to the visible gap, position the cursor at the beginning and "paint" over to the end and click "clip". It's rather tedious but soothing in a way (like shucking peas). The result is a CD quality version of the original.
Audacity has filtering options to remove hiss, pops, and clicks from an audio data stream. these artifacts are usually produced when you transfer music from Vinyl or analog tape to digital. The filtering does remove some of the data stream and thus reduces the quality of the digital playback. I have found that none of the available filters work to remove dropouts. I think that there could be either hardware or software methods of monitoring the data stream and "pausing" it when both left and right channels fell to zero and stayed there for at least two bytes. Upon a non zero condition you'd resume the output to memory. I know what needs to be done, I just don't know how to do it...
Regards,
GtG
Yes, Audacity is a great product.