I do the same (except vocals) and Reaper is the perfect DAW. Definitely get the newest version, it seems stable to me. I think it's v2.0.03. http://reaper.fm
The effects it comes with are good. At first glance they may not seem it because the interface for them (at least prior to v2.0.03) is pretty plain but the compressor, EQ, and ReaVerb are very good. I'm not crazy about the "Jeusonic" category of plugins, but the "Cockos" ones are good.
Edit: Nevermind, apparently it has gone up to 2.004 within the past 24 hours.