Can someone reccomend a good sound/music...(inexpensive would be good too) editing software where I can edit down music for what I need and then convert it to mp3 to play on my ipod?
If you can hear the difference between a high quality mp3 and a wav file, in a theatre, let alone a busy street pitch then maybe you should be working in the music industry.
That's not true at all, mp3's have varying qualities, and if you are using weird downloaded stuff, like theme songs, which is not rare at all, quite often the quality is horrid, the differences that you think you can't hear still make a big difference as far as the audience is concerned. Most mp3's could do with a bit of a boost in the bass dept. too. It really helps people feel the music. However, .wav's are still totally unnecessary, burn up memory, and can cause a buffer lag. Just re-edit to a high quality mp3
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