Is there a software package i can buy that has some nice delays, distortion, compression etc?
Obviously Reaper (which im using) comes with a lot of these but the reverb and dealy for example sound like shit to me and im not finding them very easy to use.
Am i just too much of a noob or do you guys use 3rd party editing software?
I do all my editing in Reaper. There are thousands of plug-ins you can drop into Reaper to get pretty much anything you want. You might want to do a little exploring at KVR, since there are lots of free plugins listed there you can experiment with before plopping money down for something.