X-Razor

A drum loop editor with support for VST 1.0 plug-in effects

X-Razor is not exactly an audio editor as it only edits drum loops and is extremely good at it. You can add up to two VST 1.0 plug-ins in real-time, and Direct-X plug-ins in non-real-time. You won't find anything even nearly as good as this anywhere else. Definitely worth a download.