Just to add a bit to this:

Renoise is really rock solid, fast, light-weight, powerful, Lua-scriptable, and really cheap compared to your typical commercial DAW, like Bitwig. I think I paid less than $80 for Renoise, compared to about $400 for Bitwig.

The tracker paradigm is very different to the piano-roll paradigm that most other DAWs use. If you can get used to the tracker way of doing things, which is very keyboard-centric (kind of like vim and emacs), then you could be very productive, if not you might be better off with a traditional DAW.

Finally, trackers are usually used for making electronic music, and might not be the best fit for other types of music, or for making or editing long recordings. You might be better off with something like Ardour or Bitwig for that.

Here's an example of an album I made with ReNoise and it's default sounds/plugin set:

http://kruhft.bandcamp.com/album/macro-2

All of it is mixed, played and recorded'live' with the pre-programmed tracks being mixed using an offboard midi controller.

Renoise is great, especially for breakbeat/jungle drum programming. Just load up your break of choice, put in some slice markers (or play it with offset commands like on old trackers), and you're set.

I do find the pattern-based workflow a bit of a productivity killer though (I usually get stuck on perfecting the same 8/16 bar loop).