Reason 7 has a rack for that..
Check out Propellerhead's recently released Reason 7 here. We've recently seen a big DAW software release since Propellerhead's Reason has become more and more mainstream in the music making community. It was only a few years back when their particular brand of software was considered "only for making dance music". One can now do almost anything in Reason compared to what's possible in even the highest end softwares.
With new feature like MIDI-out and the new Visual spectrum EQ, this is definitely a golden age for Propellerhead!