Audacity 2.1.0 (free)

29.04.2015|Audacity 2.1.0 Released
Audacity 2.1.0 replaces all previous versions.

For a long time, we have wanted Real-Time Preview for effects. It seemed nearly unachievable without major restructuring. But with Audacity 2.1.0, we have it in LADSPA, VST, and Audio Unit (OS X) effects! Thanks to Leland Lucius for these great new capabilities!
Much improved Noise Reduction effect replaces Noise Removal. Thanks to new contributor Paul Licameli!
Lots of other improvements to effects, also thanks to Leland, including:
VST: FXB preset banks, hosting multiple plugins
All effects can now be used in Chains, and can be sorted on name, publisher, or class.
Most Nyquist effects now have Preview button.
Redesigned Meter Toolbars show a lot more information in smaller area. Thanks, Leland Lucius and James Crook!
Spectral Selection in Spectrogram view. Thanks to Paul Licameli!
release notes 2.1.0

Audacity 2.1.0 also has lots of other improvements and bug fixes. Many thanks to all the QA folks for helping hone these, especially Gale Andrews, Steve Daulton, Peter Sampson, and Bill Wharrie