Alan Ratcliffe wrote
If you plan on taking your material to a pro studio to mix or track some instruments, ProTools is the only way to go as it is the "Industry Standard". The scaled down versions of ProTools are not as capable as Sonar and Protools locks you into a very expensive upgrade path once you move beyond the M-Audio interface versions. Plugins are much more expensive for ProTools too.
Sonar 7 Producer allows you to export tracks in OMF (Open Media Framework - a file format that can be read by many DAW software packages). If you export your song as an OMF, it can be imported by ProTools (LE or HD) without a problem. Regardless of which DAW software you run (Cubase, Logic, Sonar etc.), as long as you have the ability to export your songs as OMF files (which applies to the higher-end versions of most DAW software - Like the full Cubase 4, Sonar Producer 7, Logic 8, Pro Tools LE and up), it can be opened by any other DAW software that is OMF compatible. Do your basic recording at home and take it to the studio to record drums, vocals etc.
Sorry, that is besides the point of what Riaan was asking, but I thought I should point that out.
Riaan, I'd suggest getting something newer that would avoid having to try a bunch of workarounds to do what is actually quite simple in newer recording applications. I personally use Cubase Studio 4, which I think is awesome - more than what you'd need for the average home user. For you, try Cubase Essential 4 (R2000) or Sonar Home Studio (R1300 - R2000 for normal or XL). The entry-level Cubase is a bit more comprehensive in features than Sonar and a bit easier to use IMO, but if you're used to Sonar then go for that.
There's alot out there to choose from besides these two packages (Sequel, FL Studio, Ableton Live, Digital Performer, M-Powered etc.....).
If you have any questions or want suggestions let me know.