Closest audio software???

I'm not really familar with Cool Edit so I can only guess what the timeline sequencing function is. (If you explain I might be able to help you better.) But I do know that Peak does not do multiple tracks. You need Deck for that - it's also from Bias.

Also, check out Ableton Live. It has a mode where samples can be arranged in time on many tracks. (Sounds kind of like what you mean.) They have a free demo you can download.

 

Depends on wether you want to spend a little, ProTools LE with the M-box is probably the market leader over here, then Logic audio, The Big Box promotion bring Logic down to a comfortable £200 GBP with some cool soft synths too, plus you can view and edit audio and MIDI directly on the timeline.

 

sounds like you need more of a multitracker or a looper than an editing program. check Ableton Live, I live and breathe for it. or Radial maybe. any sequencer will do really. there's free ones out there that'll do what you need and more.