I have used earlier versions of n-tracks (1 and 2), but am
a Sonar 3 user now.
n-tracks was originally an audio program, midi has been added later on. And looking briefly at version 3, I think midi still covers only the most basic things. So if you intend to record/edit midi, n-tracks is not for you. On the audio side it is very capable. It was one of the first programs that could run real-time with plug-ins. I used it some years ago to improve some 70's reel-to-reel recordings and convert them to digital.
n-tracks is produced and programmed by one person. He seems very sincere, and you get updates all the time. The problem with earlier version was that it was somewhat instable. In Sonar I get drop-outs and just press the play button again. In n-tracks the whole program crashed and had to be restarted. Don't know if that is still so in n-tracks 3.
Can't tell you about the budget Cakewalk versions, since I don't know them. But if your main interest is midi, take a closer look.
As to Powertracks, I am considering that myself for live usage. Wouldn't use it for editing, but I have a feeling that several people use it live. You can lay down midi and audio tracks, play them or control equipment. And it might even have a way to display lyrics for karaoke or to support your own memory. But I have not had time to look closer at this yet.