Is Garage Band a serious program for professional use?

Hi,
I am a professional musician. My group, Pianafiddle, is made up of just one piano and one violin/fiddle. We rehearse a lot and are in the process of recording our live concerts. (We are not in need of a program that fixes notes, intonation, rhythm, etc.) We then cherry pick our best performances and save them up until we have enough for a new CD. In the past, we have sent our stuff out to professional editors, but we just got a new recording device that captures our sound nearly perfectly. All I want to do with it now is take the recoding (just a single stereo track...as we balance ourselves as we perform), add a little bit of reverb, compress it a little bit, fade in, fade out, etc. Then I want to cut and paste them all together into one CD. Our last 3 CDs were costly to make and my guess is the mastering engineer grunted and groaned a lot to make us think he was working hard.

So I have messed around with GB a bit. I don't use the loops (I don't even really get what they are for?) And one strange thing is that whole tempo/key signature deal. I would prefer a time line across the top instead of measure numbers. Can I change that? So I am wondering if I should just buy a different program. GB seems to do what I want it to do, but it also seems more geared to a dude with a guitar sitting in a comfy chair, laying down tracks, adding "loops" at 3AM. I mean, yes, I can add reverb, boost the bass a little bit, cut and paste, export it to iTunes and burn a perfectly good sounding CD. But am I using the right program for the job?

Thanks for any opinions.

Adam