WELL, USING SOME OF THE TIPS PROVIDED:
1. Loop construction: I created a loop in Acid & Sonar using a percussion kit from my keyboard, approximately two measures (I guess), however, by paying attention to what 'cstockdale' said, I realized there was probably some value in reducing the size of the source file first, so that it was representative of ONLY the amount I needed looped, as opposed to a 30 second .wav file. Well lo and behold, both programs seemed to generate spot on loops fairly easily and without any noticeable difference in quality and time to create! *I think the problem I was having in Sonar was that it doesn't automatically identify the potential looped segment in a longer file.
2. Side-by-side effects comaprisons: I Added the exact same Cakewalk reverb to the newly created loop, both in Sonar and Acid, and both actually seemed to take about the same time to render, and as I mentioned before, using the left pane approach makes the auditioning as seamless as in Acid (on a 600mhz, 256mb machine!). *
*I'll have to do a little more extensive testing with several tracks to see how long each app takes to render a complete mixdown with different effects.
Anyhow, I have to say that already the input I've received has quickly turned my opinion around about giving up on Sonar (you see, I suspect that there when I do finally embrace all of the midi possibilities and the whole realm of soft synths, etc, as well as more advanced mixing/mastering, that Sonar might have some functionality that I'd be missing in Acid)
Thanks for all the great and patient tips (trust me, I did read the Sonar help tutorials, for some reason, and as we've all experienced, it's having someone say the same thing but in a clearer form that does the trick!)
Thanks.