Wow Adobe has been saving secrets up. They have just released SoundBooth on labs HERE. Every time I head over there, there is something new. 

"A brand new audio application in the spirit of Sound Edit 16 and Cool Edit 2000, Adobe® Soundbooth™ gives creative professionals the tools they need to quickly clean up, customize, or create new sounds and to create customized music soundtracks for their projects."

Ill post some images later tonight. I love sound/video apps, and hopefully this one proves to be uber cool too! 

NOTE: "Due to licensing restrictions the beta does not support all of the formats that the final release will, including MP3, MPEG-2, H.264, and FLV" Thats FLV!!!