I am still learning everything from production to editing to vfx(my passion), and my weakest link is audio. I have read that Ozone 4 is powerful yet simple to use for basic editing. I also like the various limiter functions. My main desire is very simple normalizing/setting output levels of the audio so its not too quiet yet it doesn't induce clipping. I often record events that have large fluctuations between soft voices and loud clapping. I want something that EASILY allows me to output good audio at good levels. Forgive me for not spending the time to learn, but my brain is on OVERLOAD trying to learn AND retain all this information.

If it matters, I use Adobe CS5.

Ozone isn't really an audio editing tool but is a plug-in used inside of an editing tool like Cubase, Sonar, Logic, etc...
Of course this means CS5 as well.

It's a Swiss Army type tool that isn't particularly good at any one thing but can cover a lot of ground. That being said, most editing tools like those mentioned above come with plenty of tools to do similar things without this extra plugin. The interface on Ozone is very nice though and is probably the best feature there. For your purposes it'll probably do just fine but if you plan on getting any deeper into audio mixing and recording you'll quickly outgrow it. It is very easy to use though so that might be the biggest attraction for you. I'll only give one piece of advice on limiting and compressing.....these are tools that can be easily overdone. If you get serious about audio mixing get a pair of good near field monitors like Adam A7s or something in that price range.

Ozone 3&4 mastering plug-in: IMO
- Economically priced; Some of the processors or 'chains' are far from 'easy' to learn and still get pro class results, unless one can live with 'one size fits all' pre-sets; High CPU usage, if that's an issue.
As previously stated, it's a plug-in, NOT a stand alone processor or editor..
Neither is iZotope's Alloy, which is more of a channel strip.