n-Track Studio - description from Softdepia.com:
n-Track Studio is a multitrack recorder a complete recording solution for your PC. Record, overdub, and mix WAV and MIDI tracks easily with n-Track Studio software.
The software has the minimum system requirements, all you need is enough free space on your hard drive as WAV files usually take much space and full-duplex sound card allowing simultaneous recording and playback. This unique software also supports simultaneous recording from multiple sound cards.
Record your music tracks, apply sound effects, e.g. reverb, autovol, echo, pitch shift, chorus and track EQ, and mix your tracks into a single WAV file for storage and further recording it. n-Track Studio software uses third party DirectX and VST plug-ins to real-time process audio signals in a number of different ways.
The program uses 24 bit (32 bit floats) resolution for mixing and effects processing. It supports various wave files formats, even mono and stereo tracks can be mixed in the same song. You can make all editing operations from the program itself. n-Track Studio easily imports and exports MIDI tracks to regular MIDI files, and you can edit them using the built in piano-roll based MIDI editor.
When all the tracks have been recorded and all the settings are correct, it's possible to mix-down all the tracks to a single wave file for recording it to a compact disk using a CD recorder or for distributing it through the Internet using the built-in mp3 encoder.
n-Track Studio is a "Free to try" program. You can download and try it for an evaluation period.