I've been using Wave Editor for years to do my initial file splitting into tracks and in time, I've slowly refined my workflow.
I just downloaded the 100 day demo for Snapper 2 from Audio Ease and even though it costs as much as WE does now (it was much more when I bought it), it's so fast and easy to break up a large file into tracks that I've adopted it as the first step in my post production routine.
I demoed Snapper a while back but the lack of being able to fine tune the selections and adjust fades turned me off. Snapper 2 offers that and the interface is smoother and looks great too.
Give it a try and I bet you'll be hooked like me.
Here's a link to the video manuals (btw, the info on fades and trimming/adjusting selections is in the "what's new" video).

http://www.audioease.com/video.php?play=2

For most folks, you're probably right. Even though Snapper is at least twice as fast, if you're tracking a single show what's the diff?
I do lots of festivals and come home with 15-20 hours to split up. Twice as fast should make that into less of a chore for me.

Command-M is also the same way I add markers in Sound Studio.

i guess i'm just wondering what makes it twice as fast?

The only way I can think of to make Command-M twice as fast would be to have Charlie Sheen do it!