I have to agree with you dexter10. From the original question I got the impression that Premiere or AE were the only two choices here. As a hobbyist musician I can't recommend either of them for serious audio recording/editing/mixing/etc but for a regular Joe they'll do the job.

In the past I have used Steinberg's Nuendo and Cakewalk Pro Audio to record and edit my own music. Both of them are quite nice. Also one popular program is Cubase. I have couple of friends earning their living making music and I've visited few production sound studios with them too. It is my belief that Pro Tools is the most top-rated of these.

...