Hi all,
       I'm a singer/guitarist/harmonica player that enjoys home recording as purely a hobby. I tend to write midi bass/keyboard and simple drum parts as backing tracks.My interface is a Quad Capture and I write all my midi on Staff (via Musedit)
 I bought Home Studio 7XL two weeks before X1 got released so you can see I've a bit of catching up to do! The thing is I read all the features but don't know what I actually NEED, or can live without. I'm thinking it might be vocal stuff and although my drum parts are pretty basic, I do like them to sound "real".
Would anyone have any opinions?

It really depends on how much you want to control.  All version have the same basic audio engine and most of the editing tools.
 
Then there is the toy count the more you pay the more toys you get.  Also consider facilities the more you pay the more facilities and functionality you get.  i.e. the fly out Quad-curve EQ in the Pro channel is only in platinum.
 
Here is the comparison chart of the versions, in the end it is only you who can really decided what you need.

My personal recommendation is Platinum, but I love my toys and have always had the flagship version.  There is of course no reason why you can not start with Artist and then upgrade to professional or Platinum in the future.

Do some research as only you are responsible for your choices.

go with platinum, why limit yourself if you can afford it!

The Artist version offers everything you need.

Well, that cleared things up for you I'm sure.
 
As Wookie says, you pay for more toys.  Which in your case, you say you don't need.  So go with Artist.  Except that you want "real" sounding drums.  And unless you have another preference, you get AD (drums) w/ Platinum, which would save you money in the short run.  Buying a comparable drum soft synth would be more (or about the same) as buying Platinum.  And you would have more toys - some of them very good (Overlouds' stuff, etc.).  But it costs more to keep current w/ Platinum - about $150 a year.  Of course, you don't have to upgrade, so you save money.
 
I didn't really help you either, but now you have some more info before making your executive decision.  Have fun.
 
@

AT
But it costs more to keep current w/ Platinum - about $150 a year.  Of course, you don't have to upgrade, so you save money.
 
I didn't really help you either, but now you have some more info before making your executive decision.  Have fun.
 
@

Correct info would be good then - $199 to stay current with Platinum.
http://www.cakewalk.com/Products/SONAR/Versions
 
Some that went for introduction offer now to upgrade for $149, confused that with annual fee as well.

The beauty is that whatever versi N you buy you can always upgrade at a later date with little financial penalty.

So, you don't think Cakewalk will run a similar "sale" at $149?  They usually do for upgrades, so I'm just going by what they've done in the past, not what they say afterwards.

Was toying with the idea of Professional and some hardware but now I am torn between that and Platinum.

Flashart
Was toying with the idea of Professional and some hardware but now I am torn between that and Platinum.

What hardware were you thinking of? Maybe S-Plat has a built in or third party plug to do the trick.