I may not know a whole lot about it, but....
I do know enough about it to know what I like and dislike about it. My friend's dad gave me one of the two manuals he had, so I had been reading quite a bit on it and I downloaded a demo version of it (which is enough to kind of tell how easy it is to work with). I'm using cakewalk PA 9 right now and I'm used to a lot of the features it has. Some of the things that Paris doesn't have (that I can think of off the top of my head anyway) are the draw audio (pencil) tool and the volume (or pan) envelopes so it's very difficult to match volume when cutting and pasting audio clips. You also can't overlap different audio clips in the same track, when you slide one over it cuts the other one off. This is probably my main concern because I do a LOT of takes and then cut and paste the best parts from each take, so this is a major factor. Another thing is Paris doesn't support MIDI. This is not a big deal right now but I'm learning how to play the keyboard, so in the near future I'm going to want something with MIDI capabilities. I'm not to sure on this one, but from what I've read in the manual you can only have 16 tracks playing at once, even in free form mode you have to assign each track to 1 of 16 instruments which corresponds to 1 of the control 16 faders. So even though you can record more than that, only the track with the highest priority on each of the 16 tracks is going to play, but I may be wrong on this.
I already have an idea of what I want to get for my next software program anyway. I'm looking at the SEK'D Sequoia which has incredible editing features on it, so "for me" Paris just isn't what I'm looking for.
-tkr