As someone who spends a lot of time recording, editing & mixing, I'll agree that Logic's mixing capabilities are extremely powerful and a far better value than major competitors such as Pro Tools. But as an editor, its infuriatingly, aggravatingly painful to use.

Best Editor for less than $100 out there... but that's really not saying much given that everything under $100 is pretty much junk.
I like being able to count on Audacity -- if I'm not near my own personal machine and I've got some editing to do, I can always download Audacity and know it'll work. But it's got some serious issues, like the fact that it can't and does not and will not edit a file directly but resamples and converts every file into the "Audacity" format. Open, edit & save the "same file" 10 times and it nasty artifacts begin to arise. By 15 edits & saves the new soundfile is utterly unusable (unless I'm TRYING to generate the artifacts).
If you really want to do some good editing (i.e. you're not just trimming mp3s for your tunes collection), then you'd be far better off saving up some money and buying something more robust and less harmful to your media, like Wave Editor by AudioFile Engineering.