I haven't tried home studio 2002, but I have used N-Track for about 3 years now (Could it possibly be that long?!)
The major selling point of n-track over other software in its price range is its lack of limitations. Most other software that I see for less than $100 has absurd track limitations- can only play back 8 or 16 tracks. There's no reason the computer can't play back more tracks, they just limit the software to sell it to you cheap, get you hooked on their program, and sell you the expensive version 6 months later.
n-track doesn't have any of those limitations. It will handle as much as your computer hardware is capable of juggling. Want 12 plugs on your lead guitar? Sure! (Even my full version of Cubase VST can't do that...) Full automation of effects and mixing? Sure!
N-track has enough features to compete with the big boys. It does crash more often than the big boys, but they crash, too. Just get in the habit of saving your work often.
Have fun,
Chris