Apart from Audition, CEP is basicly the older version of Audition, yet the algorithms are different, defined slightly more in Audition, yet CEP still works great with my kickdrums (Hardstyle)
Which is its main purpose in my studio.
I was first introduced to Cool Edit Pro back in 2006 and fell in love with the quality and simplicity. I recorded a few rap albums using CEP back in the day and still have a copy which I still use on both my studio computer and laptop. Great for beginners and good enough for me.
When I started out producing music in the 1990's, I used Cool Edit Pro extensively to polish tracks, add effects and master my mixdowns. Easy to use, intuitive UI, import/export several file formats, plus an incredible depth of customizable effects are included which can be previewed while your track is playing on-the-fly. I recall that adding complex effects to longer tracks would take a couple of minutes to complete, but 20 years later on, these operations are computed in seconds. I suppose that makes Cool Edit Pro even more enjoyable to use these days!