MP3 WAV Editor
A newer version of MP3 WAV Editor is available.
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Full user review
"Very useful, with a few annoying quirks"
This program was very great in that it let me edit down my wav files (for example, movie quotes) to get just the bit I wanted. It will also let you splice different things together.
You can only edit mp3 files, although it does include a converter so you can convert your wavs into mp3s. Also it doesn't let you change the file name when you do something. For example, I have a long audio file which I want to turn into several short files of different parts. Each time I edit it down and save one of these bits, it saves it with the exact same name as the original file (although I can choose to put it in a different folder). This is very annoying and can be confusing.