I have Protools, Logic Pro, and Digital Performer and have used all of them (even used Cubase for a while). I've also recorded demos with a friend's Korg 16 track recording system.

For quick, no-frills demos, the stand-alone units are hard to beat - and they're fairly portable.

For serious, master-quality stuff I think you'll find that DAWs (computers + software) will rule. Obviously, you don't have to use them only for that, but there is a learning curve that's mostly higher than with an all-in-one box.