REAPER is reasonably priced Windows software for multitrack audio production.

REAPER requires no dongle, has no copy protection, and can be evaluated with full functionality.

Portable - supports running from USB keys or other removable media
64 bit audio engine
Excellent low-latency performance
Stunning multiprocessor performance
Direct multi-track recording to many formats including WAV/BWF/W64, AIFF, WavPack, FLAC, OGG, and MIDI.
Extremely flexible routing
Supports a wide range of hardware (nearly any audio interface, outboard hardware, many control surfaces)
Support for VST, VSTi, DX, DXi effects
ReaPlugs: high quality 64 bit effect suite
Tightly coded - installer is just over 3MB

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