you might check the Cakewalk forum for some pretty detailed discussions of the product. Do a search on HS2002 in the Cakewalk forum, and you should find some good feedback. I haven't used HS, so I can't speak from experience, but it seems like lots of people are happy with it.
I have used Home Studio 2002 since it was released, and I can't think of a more complete recording software for the money.
Sure, I was a beginner when I bought it, but even as I have progressed further with my music, Home Studio 2002 has always been able to let me do just about what I want to. It really only lacks in certain effects that are present in Cakewalk Sonar.
If you have any specific questions, don't be afraid to ask me.