What do you like best?
Everything from the interface to the controls to the exporting of files feels tight and solid when working with Sony's Sound Forge. Easy to get started with, but features lots of shortcuts for power users. For single track editing, I prefer working with Sound Forge over other software, like Audition or Audacity, because Sound Forge feels as lightweight, as clean as possible, without sacrificing anything in terms of editing precision. Recording with Sound Forge is also pretty easy and straight forward.
I've been using Sound Forge as primary single track editor since Adobe bought Syntrillium's Cool Edit, and destroyed it when they turned it into Audition.
What do you dislike?
When effects processing is needed, I prefer to use Sony Acid over Sound Forge, as Sound Forge's interface for creating effects isn't as robust as in other software. For multi-track recordings, I use other software, too. I've found file type support to be questionable at times, as Sound Forge will sometimes throw errors when trying to load certain more obscure and/or proprietary and/or not perfectly encoded file types. I've also found some of the features of the recording interface to be buggy, like the real-time display feedback.
Recommendations to others considering the product
If all you're doing is single track audio editing, you can't go wrong with Sound Forge. But if your project involves multi-track editing and/or editing audio for video, I find it's always easiest to work within the creative suite's bundle, i.e. if you're editing video in Adobe Premiere Pro, edit the audio in Audition; if you're editing video in Sony Vegas, edit the audio in Acid.