Real-time processing with 32-bit Floating Point accuracy.
ASIO, WDM and MME driver support.
Support for 8-, 16-, 20-, 24-, 32-bit files with up to 192 kHz resolution.
Support for WAV, AIFF, AU, Ensoniq Paris 24-bit, Sound Designer II, Ulaw, MP3, MP2 (M.U.S.I.C.A.M.), WMA, AVI Audio, Sun/Java etc..
Support of Redbook Audio CD and DVD Audio.
Proprietary file format: OSQ for loss-less compression of audio files for archiving.
Apogee UV22 HR Dithering.
Save while work: simultaneous saving of multiple audio files in background.
Full featured recording with up to eight audio channels.
Master section with up to eight audio channels and support for surround plugins.
Professional database for audio files.
Audio file comparison and analysis.
Batch Processing with Plug-Ins.
MTC Synchronization.
Sampler support for all industry-standard samplers.
Programmable screen layouts.
Instant, unlimited Undo /Redo.
Specifically optimized for Pentium IV, Pentium III, Pentium II, Pentium MMX.
Various loop and crossfade tools.
Telephony applications (DTMF generator and more).

Real-time Effects and Functions:

Real-time analysis of audio signals: Level / Pan, Phase, 60-band Spectrum Analyzer, FFT-Meter, Wave, Bit-Meter (all with up to eight audio channels).
NaturalVerb.
Q (parametric 4 band mastering EQ).
Multiband Compressor.
Spectralizer (Enhancer), Denoiser, Declicker.
Voice Attenuator.
192 kHz Resampler.
Puncher.
Reverb / Echo / Chorus.
Autopanner, Stereo Expander.
Externalizer (loudspeaker simulation for headphones).
Leveler / Peak Master.
Noise-gate.
Ducking Tool for voice-over automation.
VST Dynamics (Gate, Leveler, Compressor, Soft Clip, Limiter).

Audio-Montage Features:

Innovative, clip-oriented editing system with outstanding performance.
Support for any output configuration from mono to eight channels, including all standard surround formats.
Direct import of split and interleaved surround files into separate tracks.
Clips can be processed with up to 10 virtual effects.
Track-based effects with up to 10 virtual effects.
Track volume control and surround panner with automation.
Track level meter.
Any number of clips can be placed on any number of different tracks.
Superimposing two clips automatically generates a crossfade in real time.
A variety of preset fades are included: exponential / logarithmic/ sinus / square root.
Unique technology for intelligent overlapping and positioning of clips to avoid phase cancellation.
Volume and panning can be automated for each clip.
Smart video thumbnail track with video playback within the track – plus vide tab for larger playback view.
New picture and realtime text tracks.

Off-Line Effects and Functions:

CD Burning:

Full Red-book compatible CD burning with enhanced CD burner support.
On-the-fly CD burning including all Plug-Ins.
CD Wizard enables the creation of an entire Red-book CD with just a few mouse clicks within the Audio-Montage.
Individual clips in the Audio-Montage can be defined as CD tracks and burnt directly to CD.
Label Editor to create custom labels and CD covers.
Backup tool: storage of projects and data on CDs or other media.
Audio-in-pause, CD-text support, CD Image import/export, Cue Sheet import/export.
Data and mixed mode CD burning, ISO image support.

DVD Audio Authoring:

Full DVD Audio support including high resolution stereo and surround formats (all channel modes defined in the DVD Audio specification are supported).
16-bit and 24-bit resolution with up to 192 kHz sampling rate. WaveLab can create DVD-A disks up to "stereo, 24-bit, 192kHz" and "5.1, 24-bit, 48kHz", and "5.1, 16-bit, 96kHz".
High resolution surround support with up to 24-bit and 48 kHz for all six channels (24-bit/96 kHz 6-channel surround requires MLP encoding – currently not supported by WaveLab 5).
DVD Audio creation directly from Audio Montage.
Instant non-destructive and reversible transformation from CD project to DVD-A project.
Support for DVD real-time text and static text, still images, slideshows, and graphic menus.
Support for ISRC and UPC/EAN codes.
Automatic creation of menus.
Support for gapless playback, audio-in-pause, hidden "bonus" tracks.
DVD Audio grabber (for unprotected DVD-A only).
Support of DVD-R/RW, DVD+R/RW and DVD-RAM drives.
Ability to import and burn DVD Video content.
Support for additional data content.
Supports up to 9 Groups with up to 99 tracks each.
Track sub-index support.
User-defined down-mix coefficients from surround to stereo with direct audio preview.