Not so new but I must say Audacity due to it professional looking interface an it ease to use. Audacity is a Free Music software that is available on multi platforms.
This is free but not only cutting and pasting like many other free music software, but it can EQ, pitch adjust, normalize, compress and other functions that a producer needs. Also it’s not only a stereo editor, you can handling multitraks of recordings and export as Wav or mp3 or Ogg.
The only downfall is that Audacity doesn’t host pluggins or and has no mixer panel.