Cakewalk SONAR 8 is a very nice recording program. If you are absolutely dead set on something that doesn't require hardware, though, I would have to recommend Steinberg Cubase 4. It's exceptionally powerful with a nice interface that includes a "virtual control room" eliminating the need for an external mixing board.
The industry standard, as you are well aware, is Pro-tools, however. Your friend should seriously consider getting himself at least an M-box mini recording bundle, as it would cost about the same as SONAR or Cubase.
If he isn't looking at Pro-Tools b/c he thinks it's only for Mac, you guys need to take a second look. Since Apple's switched to Intel, they have had to make huge changes on the software level and b/c of this, the new Pro-Tools IS WINDOWS COMPATIBLE!!!! If you were already aware of this, then Steinberg is my recomendation, then SONAR. Good luck, and happy recording!!
