Steinberg has released a tremendously cheap version of their flagship wave editor, Wavelab 6: the Wavelab Essentials is targeted to the home studio and podcasting arena with its price of 50 USD. The software based on the original Wavelab environment, with slight feature cut-down: 24/96 maximum editing resolution, file size limit at 2 gigabytes, 32 bit floating point internal resolution instead of 64, no spectrum editing, no save in the background, only one instance can run at a time, limited batch processing functions and so on. Check the features and the full comparison table here.