This thread has been dormant on the site for far too long - this is by far one of the coolest free programs out there for sound file management, editing, etc. and is great for transcription too...check it out!
I don't use it as often any more because I've stopped doing transcription but it is still so useful to me for cleaning up sound files.
If you have a client who does teleseminars or interviews etc. there are always chunks of silence that need to be 'cut out' or fuzzy bits that need to be clarified before publishing the show to the web - Audacity lets you do all of that and more with a couple of clicks. Easy!