better audio engine.. < i cant stress that enough!
handles higher bitrates better
higher bitrates (up to 32bit/384khz)
latency compensation
more plugin versatility
supports VST plugins
can export to AAF, or OMF (for easy transfer to and from pro tools)
extensive rewire capabilitys
MUCH better multitracking
MUCH better system of routing audio
MUCH better sounding native plugins
File system is 110% better organized
The use of a file pool
The ability to access the history of a session after you save it, and undo things
much more powerful editing tools (glue, split, scrub, etc... so on)
apogee dithering tool
FULL AUTOMATION!!!!
MUCH MORE PROFESSIONAL AND VERSATILE MIXER
Group Channels(you can assign ONE set of effects for any group of wav's you want, unlike cool edit were you have to add the effects to each wav file)