Digital Audio WorkStation
My first computer was a Comodore 64 with 64K of memory at 5Khz.
My current computer is a 4-core AMD Phenom II at 3.1 GHz and 8 G of RAM. I've come a long, long way. It is running Sonar X1-cx.
Audio I/O
Audio I/O is handled by a MOTU 2408 and a MOTU 24i/o for a total of 30 channels of audio and 16 s/pdif.
MIDI I/O
Midi I/O handled by a pair of MOTU midi express XT's for a total of 16 channels of midi.
Other Tools
I use DR Dynamic Range Meter to get proper dynamics and prevent clipping as one of the last steps in production.