I also use this program a bit, mostly for MIDI sequencing. However, my son has installed it on his computer and recorded some .wav files with the cheap microphone. So the basic functionality is definitely there; however, as we have not tried to edit his recordings, I don't know if the editing tool set is complete enough for full-scale editing.
One of the features which this program does not have is the ability to print separate midi channels on individual staves. (this is very helpful in trying to understand the auto accompaniment styles, and do style editing). The program MidiNotate (form
www.notation.com) does this very well. I simply record stuff with the built-in sequencer (in my keyboard), save the midi file to a floppy, and then the PC shows the notation format of the midi file.
However, I do not use the printed chords, so I never tried this feature.