Look at this comparison to help you make an informed decision:
http://www.cakewalk.com/Products/SONAR/Versions If you can go with a Max of 64 tracks and only 8 channels of Input/Output, then this may be the way to go.
Need more Tracks, step up to Artist. Want more Instruments or need Pro Channel get Professional. Want the whole ball of wax? Get Platinum. Lovingly called SPLAT.
I started with Home Studio several years ago, upgraded to Professional (they didn't have "Artist" then), then when I was able I upgraded to Platinum. It has a lot I don't use, but what I need is always there!
Best of Luck!