Wavelab is great for recording. Make sure you configure your options first, so you are recording the input you want, the way you want (ie select S/PDIF or whatever). Then you'll need to match up all the parameters of your input (if digital), soundcard, and Wavelab in terms of sample rate, bit depth and what not. There's some automated functions you may or may not use to control length, on/off, etc.
It will take some time to learn all the possibilities of modifying your file once recorded. To change the gain for a portion, or all, of the recording, make sure you highlight the portion of the file first, then go to change gain or normalize. Yes, the help functions are essential because of all the options. Don't split tracks in Wavelab, use CD Wave for that.
Good luck! It's a very useful program.