FL Studio (formerly Fruityloops) from Image Line, is the most complete virtual studio currently available. Ideally suited for creation of songs (of any genre), backing tracks, loops and realistic drum tracks/loops, you will be creating wav, mp3 or midi songs or loops only minutes after launching it.

FL Studio 5 comes in 3 flavours: Fruityloops Edition, Producer Edition and XXL Edition. The Producer Edition includes everything found in the Fruityloops edition, plus audio recording and editing capabilities, XXL Edition includes FL Studio Producer edition v5 , Sytrus Synthesizer, SimSynth Live,DrumSynth Live,Fruity SoundFont Player, Fruity DX-10, VideoPlayer and ~2.4 Gb DVD Sample Collection. Feature Comparison

Key New Features

Time-Stretching in Audio Tracks and Sampler

FL Studio features the high quality ZPlane Elastique time-stretching technology. Tonal, drums, slices and resample time-stretching are available.
Both the Sampler and FL Audio Clips support this time-stretching (resizing audio clips stretches them in time).
Automation Clip & Improved Audio Clips

Brand new Automation Clips added to the Playlist.
Added option to trim audio clip parts outside playlist selection.

Load ACID Loops

Retains ACID Loop markers and allows following of project tempo.
Improved Recording

Added loop recording/overdub ability.
Audio recording can now be undone.
Right-click arm a Mixer track for a quick default name.
Ability to leave tracks armed after recording.
Selecting an ASIO input arms the track automatically.

New Plugins:

FPC - FL Studio MPC, a new self-contained drum machine plugin, similar to the hardware Akai MPC unit, coded & optimized for the FL Studio platform.
WaveShaper - Graph based distortion with super sampling. WaveShaper is a wave distortion effect which maps input to output values using flexible spline-based graph.
VideoPlayer - Synchronized playback of video content inside FL Studio. (XXL Only)

Improved Plugins

Granulizer is vastly improved (supports transients, new key-to modes). Granulizer is a generator plugin that utilizes the granular synthesis technology.
Sytrus adds global envelopes, new curve types and more.
Fruity Slicer is improved to support the new slicing engine & time stretching capabilities.
DrumSynth Live now supports up to 120 patches at once.

New Tools

New powerful Arpeggiator tool in piano roll. The Piano Roll Arpeggiator tool allows you to apply arpeggio effect to your scores based on fully customizable arpeggio scores and a set of additional options.
New Drum Flam tool in the Piano Roll.
Note legato and Articulation tool in the Piano Roll.
Brush tool added to the Event Editor.

Other New Features

New real-time interpolation options for high-quality real-time playback.
New option to render audio files with note slice markers.
Tempo tapping added to tempo's right-click menu.
MP3 files can be loaded into sampler channels and audio clips.
Added support for Hercules DJ Console (when set in MIDI mode, endless
knobs, coupled switches, special switches & middle jog work).