I use an old free version of Acid Pro (I think v2.0), since I don't really record that much and don't need super high quality recording software. Oh yeah, and I'm cheap.... sorry, I mean, "on a budget".

It's restricted in some ways, e.g. you can only record 8 tracks per song; however, there's no restriction on track length (unlike current demo versions of Acid out there). Also, the effects available in the full version aren't included, e.g. fade in/out, stereo effects, etc., but you can make do with GoldWave.

It works fine for my purposes.

Here's a link to download what may or may not be the version I'm describing: Click here