Sound Forge is *very* easy to use once you're in it, but i haven't used Wavelab, so i can't compare the two. The Acoustic Mirror is nice, and the capabilities it grants are quite impressive (though probably not too different from any other impulse/convolution application). There are a few sites on the net where you can download effects emulating the traits of vintage gear, not to mention reverbs. But to be honest, i'm not too fond of some of Sonic Foundry's effects. I don't like their reverbs much at all, and i think their choruses are pretty crummy. Make sure you get a VST wrapper program so you're not limited to DX plugs. There are many professionals who use it based on magazine articles and editorials, so i don't think you could ever say it's a sucky program. I guess it ultimately depends on how much you pay for it (Sonic Foundry released SF 5.0 for *$99*!!! as a download when it came out. You can't lose with that price.)
good luck researching,
-marcus