Pro Tools is good for both Windows and Mac and although I haven't used it much, Adobe Audition is great on the PC (and though it's out for Mac, I still prefer Logic).
The 5by5 studio, though small, is pretty complicated (and unfortunately kind of expensive) to setup. We record all but 1 of our shows live, and edit them all before releasing them.
I'm planning on doing either another post or perhaps a video about the setup (assuming there's interest).
Thanks for taking the time to read the post. Actually I didn't link to the Amazon cable because I wanted affiliate money, I linked to it as an alternative to Monoprice's slower and more expensive shipping costs. Many people don't want to wait more than a week and pay higher prices for a couple of cables.