Renoise and Ableton Live are my favorite DAWs. Most of my tracks are made in Renoise, but I know Live too, and I like it. I spend a couple of months with live 8, I really like some instruments, like the new Looper, and the effects, racks, drums machines and synths too. The session view is great to quickly test ideas. I record guitar and voices, and that is an advantage in live compared to Renoise, but…
I find easier finish a song in Renoise, tweak the details, I dunno…, maybe is something psychological, but is more easy for me in Renoise.
The number one con in Renoise is recording things (guitar, voice, whatever).