Audition used to be Cool Edit Pro. I really loved the UI of that program back in the day. I don't know what it's like these days, but back then (either the late 90s or the early 2000s, I can't quite remember) it was great as a wave file editor and a multi-track mixer.
Ninja'd - was about to write the same but hit refresh beforehand. Syntrillium's Cool Edit Pro did have a multi-track recording and arrangement view, it was no longer a purely sample-based editor (Cool Edit 2000 and earlier did not have this feature, IIRC).
I also don't know how it has changed when it got taken over.
