its no longer cool edit 2, its now known as adobe audition and will do pretty much anything you need for audio editing aswell as a good multi track mixer, i think it supports 128 stereo tracks or something, more then youd ever need.
you can even mixdown in 5.1

im sure i read a review about the newest version a couple of computer music issues ago and from what i can remember it looked like a really powerful peice of editing and mixing software.

its about 200 quid but thats a damn site cheaper then the new incarnation of steinbergs wavelab which costs as much as a bloody hi end sequencer

id definetly check it out, see if you can get a trail version on a magazine or off a website