I agree with Guitarhacker. I used Guitar Tracks Pro 4 for about a year before I upgraded to Sonar. The only reason why I did was because I had the extra money and I wanted the extra bells and whistles that he speaks of. I never used MC5, but I can tell you that you can get great results from GTP4 and it too comes with some nice things, such as Guitar Rig 3 LE, some virtual instruments, and some other effect plugins.
Combine those with the freebies from Native Instruments and you have a lot to play with for a long time. Also don't spend $600 on Sonar, you can buy it cheaper than that right from the makers. $400 is the price of producer I think. GTP4 is $100 or $150 if you want the bundled audio interface, which is basic but gets the job done.
With so many variables though I think you will have a hard time replicating the sound unless you talk to him directly. Don't forget that youtube processes the videos people upload so you can't use that as a true sound representation. It is compressed data, which may or may not have a huge effect on the sound.
I never heard of Quad tracking, so either he made up the term, or he is smarter than me (which probably isn't that hard to do).