REAPER is a powerful but sensible Windows application that lets you record, arrange, edit, and render multi-track waveform audio. It provides an extensive set of features, but is a very small and lightweight application (the installer is less than 1 megabyte, and includes many effects and a sample project). REAPER supports ASIO, Kernel Streaming, WaveOut, and DirectSound for playback and recording. It reads WAV, OGG, and MP3 files, and records WAV files. You can arrange any number of items in any number of tracks and use audio processing plug-ins (DirectX and Jesusonic). REAPER also supports volume, pan controls and envelopes per track, multi-layer undo/redo, and user creatable color themes.

Changes in REAPER v2.008 - October 27 2007:
* disabled autoscroll when alt+dragging items
* updated disk read modes, synchronous now does more buffering and can perform decently
* default asynchronous disk read buffer size adjustments for higher track counts
* do not run muted tracks now only applies to muted tracks, not unsoloed tracks
* fixed a no-peak-item display bug when zoomed out
* changed default source material buffer size to 1200ms
* media buffering memory is now reduced when stopped
* ASIO: better samplerate switching (should be more compatible we hope)
* VST/DX: inf/NaN removal when denorm prevention is enabled
* VST: host controls now resize properly
* VST: better FX floating window sizing
* VST: multiple VSTs in different directories with the same filename are now ignored
* VST: faster startup scanning (especially when you had filename collisions before)
* JS: automatic inf/NaN prevention
* Spectro: improved memory usage and fixed rare heap bug