Adobe have released a beta of their Soundbooth application.
Soundbooth is best described as being comparable to the open-source favorite Audacity. It’s simple and to the point (they say “in the spirit of Sound Edit 16 and Cool Edit 2000”) – not too much in the way of in depth control. It’s designed for a more video-oriented audience though, rather than the audio professionals who are likely to jump to Audition or an even more dedicated environment such as DigiDesign’s Pro Tools.
I won’t stick too much commentary here, it’s already been blogged to death by the likes of DownloadSquad, DVGuru, etc.
You can find Soundbooth at Adobe Labs.