There has been a long standing out of memory bug when attempting to import mp3's into Sonar that was fixed in X3d. I do a lot of backing tracks for my cover band in Sonar and fixing that bug has made my life a whole lot easier.
My normal workflow is to import the original audio track, transcribe the parts, find or create the sounds, produce the mix, then bounce it with a click track for our live shows. I used to have to burn my mp3's to CD's, rip them to wav's, then import them into Sonar. Now I can import the mp3's directly into Sonar, this makes getting the reference track into my workspace much easier and I don't have to make CD's that I use once and throw away.
Thanks!