Since: Sep 09, 2002
i'm using Cakewalk Pro Audio v9, the older but upscaled version of Guitar Tracks, and I like it. It's fun just layering guitar noodlin and applying effects, although I've never really tracked out much more than demo songs to show my bandmates.
what software you'll need all depends on what kind of tracking you'll be doing. If you're doing nothing but audio tracks (no virtual instruments etc) then GuitarTracks might be the one for you. Your budget is also a major factor. If you can afford it, a bigger multitracker like Sonar or Cubase will grow with you as you learn more and more.
I highly recommend you download the demo versions first. I tried all the demos a couple years ago and settled on a package with Cakewalk Pro9 and WaveLab and I'm glad I shopped around.
Stick around here at HRC and read as much as you can. This place has been a bible of knowledge for me, and I recommend it to everyone. Welcome, and good luck! -j