I have used Reason since V1 and I am now thinking that it is wearing thin when it comes to the competition. OK, its not really competing with Cubase, Ableton and Logic, but from a development point of view, Reason is no more advanced now than what it was when it started. Just a few more bits of kit in the rack and a new sequencer. Having 'audio in' is definately something Propellerheads should've done by now. Why sell a virtual recording studio that doesn't allow you to actually record in it?!
Maybe Record will allow you to do as its name suggests, but for it to be successful it will have to provide us with something really special to compete, or be useful, with the stuff that is out at the minute.