I'm going to second Vegas Pro, it is so freakin' awesome and flexible it blows my mind why it isn't more popular than it is.
You get basically as many audio and video tracks as you want (it'll eat four chans of audio for breakfast), full vst plugin support (add delay to the SBD, hard limit applause, mild compression, EQ, etc.), easy panning/level controls and polarity button on every track, multiple bus support for both audio buses and video buses, can real-time edit so many audio/video formats it's not funny (you can even drop FLAC files directly on the timeline), full track automation of any automatable built-in feature (ride the levels, change panning over time) and plugins (ride the threshold of your compression over time, bring in more or less EQ over time, etc.), and the ability to drop video files or even photos right onto the timeline (panning/zooming over photos using keyframes), blah, blah...
And the best part of all is the completely NON-destructive workflow. I can FLAC my original sources right out of the gate, drop them on the timeline, do all the editing/mixing/mastering/tweaking I want, save the project file (usually under 100k), and then render out a master for listening in whatever format I want. Then, later, no matter what happens, as long as I keep the original untouched originals and the vegas file, I can easily render out a new copy to any format needed down the road (or even tweak my original mix again years from now without having to redo everything). And even if Vegas became obsolete, I kept the untouched originals, so you could always remix.
Anyway, just plugging that app, sick...