This is a good point - each program has specialities that make it easier to get particular effects.

Logic is the most powerful MIDI tool on the market. No question.
Acid is wonderful for chopped-up effects on beats, vocals, or whole tracks - and for time-stretching, although that's easy enough in Logic if you learn how.
Logic and Cubase are great host environments for VST instruments.
Reason is immensely flexible with audio and control paths, and very controllable... It allows immediate mapping of MIDI controllers to on-screen knobs, and automation is very easy.
Ableton Live combines the automation ease of Reason with the wave munging capabilities of Acid... And adds some very interesting new groove manipulation twists. No MIDI though.
Reason makes it very easy to 'steal' grooves from MIDI parts, and combined with Re:Cycle can create incredible chopped loop effects - rhythmic, atmospheric, or tuneful. The Malstrom synth is wonderful for texture, and a couple of the new effects are good, but the subtractive synth needs an overhaul. And there's no VST support - despite what the Turnkey ads say.
Soundforge is cool for chopping up samples as it has a sweet user interface, and even has FM synthesis built in.
Wavelab is great for mastering, as it allows VST and DX plugins to be applied in realtime...

And that's just a few programs that I know.

I'm looking forward to getting my hands on Cakewalk's Project 5 sometime soon... It's getting rave reviews all over the shop. Anyone had a go yet?