A portable, full-featured audio editor that supports ASIO and VST FX in a mere 225KB download? Wavosaur is tight programming and then some. But despite its tiny footprint, this free audio editor has tons of features so you can change bit rates, convert, create and apply volume envelopes, cut, dice, slice, detect beats, normalize, and much more. See all: PC Advisor Software Downloads.
It's also very fast in applying those edits and non-destructive, which means you may undo your actions without reloading the original file.. What Wavosaur doesn't do is reverb, chorus, flange, and compress, etc. Instead, the program relies on VST effects plug-ins (Virtual Studio Technology, a standard from industry heavyweight Steinberg) for FX. That's no doubt part of the reason it's so efficiently-sized. You can find download links and listings of many free VST effects plug-ins on the Wavosaur website if you've none of your own.
Wavosaur also supports ASIO (ASynchronous Input/Output), another Steinberg standard for low-latency audio so you can record alongside a wave file you're editing without a lot of lag.
The Wavosaur interface is efficient, though a bit old-school in appearance. You can dock the numerous toolbars at the top or bottom of the editor window or detach them to float. It isn't particularly pretty, but it gets the job done quite nicely.
Wavosaur is impressive, and for straight audio editing, it's amazingly powerful. Download it, even if it's just to see how small you can go when you write tight code.