Peakle Vs. Toast & Jam, Recording & Editing Options

[Wes460]

Application: Long Jazz Programs <5hrs>, audio recorded on Stereo VCR.
[H Johnson on WABE Atlanta]
Goal:
Transfer the Audio to my Mac, and then be able to edit out specific songs, and some of H Johnson's commentary inbetween songs. Ultimately to include specific tracks in iTunes or transfer back to CD. I need to be able to apply Fades to the Digitized Tracks: not simply trunkate them.
I have a trial Peak LE [received with my iMic] which appears to have the capability of the fade edit. Roxio just advised that Toast & Jam is required.

What do you think?

-wbajr tbc
PS: I'm not a Pro and about 200 is all I want to spend on this... the Peak regular version at $4XX is out of the question. Peak LE is only 16 bits...but what the heck it's a transcribed radio broadcast!