Does anyone use Audacity for Re-Edits?

Hi, I’m new to Audacity (OS X) and trying to have a go at re-editing mp3 tracks eg. make them longer, switch parts around, take out vocal parts etc. I was wondering if anyone else uses Audacity for this purpose and had any info on any plug-ins that may help. I’ve trawled the net looking for effects and filters but being new to this, I am being overwhelmed with VST/Nyquist/LADSPA and loads of plug-ins that I’m sure won’t be useful for the purpose I need. Basically, I would appreciate anyone who can advise any filters/effects that would be useful to help make a (rock) track into something funkier.

Note that MP3 is a “lossy” format. Decoding and re-encoding MP3’s will always result in some loss of sound quality. Re-editing WAV files is much better.

Use the latest version of Audacity that is available for your computer (1.3.x) and that has many of the most useful effects included with it as standard.