Most expubidently. Actually, I use GoldWave for the editing portion. Audacity will do it but Gold Wave has far more little fiddly-bits when you want to do a proper job of it.
Yeah, I've used Goldwave myself - I really like the filtering capabilities it has built in, but my major beef with it is that it only has, IIRC, one "undo" level. If you spend much time tweaking, that's really frustrating, because you can't step backwards through the changes you've applied.