Yes, they can be very good. The weak link with most stand alone DAWs is in their D/A converters. I have a Yamaha AW16G, which I will use till it dies, even tho it's only 16 bit. It's bulletproof and works really well.
However, when I mix on it, my mixes always sound muddy. Therefore, I export the tracks and mix in SONAR on my PC. Sounds 100x better that way.