I am learning fruity loops and I am interested to buy Fruity Loops Studio 10 **FRUITY EDITION** (I currently have the demo. I am not going to buy anything higher than this edition.

I mainly create MIDI patterns and use synthesisers to create music. I do not record any real instruments (eg. Guitar through microphone)

I am currently learning how to use FL although the learning curve is steep and will take a long time to complete.

I really only have two questions.

Firstly, FL say Fruity Edition does not come with "No audio recording No Audio Clips. No Automation Clips."
What do each of these features allow you to do? Is it a bad thing to miss out on?

Secondly,
Are there any better alternatives to Fruity Loops, which also create beats and music? I am running Windows 7 and my price range is around £100. If so why is it better?

Here is a link to the Fruity Loops website. Scroll down to see Fruity Edition; http://flstudio.image-line.com/documents/editions.html?t=2

Answers from experienced users much appreciated.
Thank you very, very much,
Will